Date
23 October 2017

Danone lifting stake in China Mengniu Dairy, Bloomberg says

France’s Danone SA has agreed to raise its stake in China Mengniu Dairy Co. (2319.HK) by investing an additional 486 million euro (US$663 million) in the mainland milk producer, Bloomberg News reported Wednesday. Danone will boost its holding in Mengniu to 9.9 percent from 4 percent by buying new shares in the Chinese firm, the French food giant was quoted as saying in a statement. The deal, which is subject to the approval of Mengniu’s shareholders, is expected to be finalized within the next few months.

– Contact HKEJ [email protected]

CG/RC

 

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