date:May 20, 2013
agreement to set up a joint venture for the production and sales of chilled yogurt products in China.
Under the deal, the two parties will combine their respective assets in the category for a total 2012 proforma net sales of about 500m, with an estimate market share of around 21% and 13 facilities across China.
Danone will own 20% and Mengniu 80% of the new joint-venture in China.
The joint venture will benefit from the complementarity of Danone and Mengniu brands. It will achieve synergies