Danone has agreed to sell its 22.98% shareholding in China Huiyuan Juice Group Limited to SAIF Partners, a Hong Kong-based private equity firm. As per the agreement, Danone is to sell its participation for HK$ 6.00 per share, for a total consideration of approximately €200m. Huiyuan holds a leading position in the fruit juice market in China. Danone’s decision to sell its minority stake in Huiyuan is in line with the company’s strategy to focus the activities of its waters division on natural mineral and spring water-based beverages. Since Danone’s entrance in the Chinese market in the late 80s, the company has built up successful positions in its four core categories – fresh dairy products, waters, baby nutrition and medical nutrition – which together operate 20 factories and employ 9,000 people in China.
Danone agrees to sell shareholding in Huiyuan
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