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Danone to raise stake in China Mengniu Dairy for $665 million
date:Feb 13, 2014
HK$42.5 per share, a 15.3 percent premium to Mengniu's previous close.

COFCO, Danone and dairy cooperative Arla Foods ARLAF.UL, Mengniu's three core shareholders, will combine their stakes within COFCO Dairy Investments, Danone said in a statement. COFCO owns 16.3 percent of Mengniu and Arla owns 5.3 percent.

Danone has long aimed to establish a major presence in China. Its first joint venture with China's largest beverage company, Hangzhou Wahaha Group Co, fell apart in 2009 after 13 years.

12/20 20:13