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Danone sells water JV stake to Bright Food
Danone has signed an agreement with China’s Bright Food Group to sell its 50% stake in water company Shanghai Maling Aquarius to a Bright Food Group unit.
Danone had a joint venture with Shanghai Maling Aquarius, a unit of Bright Food Group, to operate the Shanghai Aquarius brand in China. Danone is to sell its stake in the joint venture to another Bright Food unit.
Danone sold its 23% stake in China’s Huiyuan Juice last July for around €200m to focus its water division on natural mineral and spring water based beverages.
Source: Economic Times
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