Bright Dairy ends cooperation with Danone
17 October 2007
Bright Dairy & Food, China's largest dairy company, has announced that it is terminating its seven-year cooperation with Danone, Xinhua reported (in Chinese). The French drinks company will sell off its 20.01% stake to Bright Dairy's the two largest Chinese shareholders, Shanghai Dairy (Group) and Shanghai Industrial Food Products, at US$0.60 per share, totaling US$127 million. Danone will also pay US$44 million as compensation for Bright Dairy's promotion and sales under the registered trademark "Danone."
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