Danone has agreed to sell its 51% stake in the ventures to Wahaha, putting an end to all legal proceedings related to their dispute.
Since 2007, the Paris-based Danone has become embroiled in at least 25 lawsuits and arbitration cases in five countries against Wahaha and its founder, Zong Qinghou.
“The settlement is amicable for both parties as the long-running disputes consumed huge cost and energy for both companies,” said Liu Jinhu, an analyst from Landsea Securities Co Ltd.
Source: Reuters, Shanghai Daily
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