December 30, 2004

China's Bright Dairy To Sell Shares To Danone Unit

China's Bright Dairy & Food Co Ltd has obtained government approval to sell 40.09 million shares to a unit of Danone Group, thereby allowing the French company to double its interest in the Shanghai-traded firm. Bright Dairy is one of China's top three dairy producers.

After the stake sale, Danone Asia Pte Ltd will hold 80.19 million shares, or a 7.7% interest in Bright Dairy, up from 40.09 million shares, or 3.85% before the deal.