Danone to Sell its Interest in Huiyuan to SAIF Partners
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.
Jul 28 2010 --- Danone has agreed to sell its 22.98% shareholding in China Huiyuan Juice Group Limited, which is listed on the Hong Kong Stock Exchange, 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 approx. € 200 mln.
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 eighties, 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. With a strong commitment to accelerate its development in the Chinese market, Danone will continue to focus on the growth opportunities of its four core categories in China.
