France-based Danone has successfully frozen the assets of a number
of enterprises allegedly linked to Chinese joint venture partner
Wahaha, on the back of increasing legal pressure over property
rights in the country.
Danone is a step nearer to going it alone in the Chinese dairy
market after selling its entire 20.01 per cent stake in
Shanghai-based Bright Dairy and Food and terminating a distribution
agreement for its products.
Groupe Danone expects to conclude its acquisition of nutrition
company Numico in the first half of November, the two companies
said today, setting a timetable for the French group's bid to lead
the field in health and nutrition.
Group Danone is experiencing further set backs to its plan to
expand its presence into Asia's booming dairy markets, as an Indian
joint venture partner turns the tables on the dairy giant,
according to press reports.