Danone reorganises Chinese assets, cuts ties with Mengniu

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Reuters UK

PARIS (Reuters) -France’s Danone said on Friday it would end its partnership with Chinese milk firm Mengniu by selling a 25% stake it holds in milk powder maker Yashili as well as a 20% joint venture participation. In return, Danone will acquire from Yashili 100% of the Dumex Baby Food infant milk unit. The different parts of the deal, which also includes a sale of a 20% stake in the Inner Mongolia Diary Joint Venture, will not need to close at the same time. “It is expected that the earliest closing could take place this year”, Danone said in a statement, adding: “The completion of these tran…

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