November 1, 2005

Danone to buy more shares of Shanghai Bright Dairy

Global feed giant Danone would buy more shares of Shanghai Bright Dairy, a major dairy company in China, Bright Dairy said.

Danone would buy 19.26 million shares, or 1.85 percent of Bright Dairy, from Dazhong Transportation, for RMB72.21 million, Bright Dairy added.

If China's government approved the deal, Danone would hold 11.55 percent of Bright Dairy.

Meanwhile, Danone said its Q3 sales this year totalled EUR3.42 billion, up 7.1 percent from the same period last year.