Groupe DANONE in Negotiations with Chinese Partner
In accordance with agreements signed by Mr. Zong and approved by Chinese authorities, these joint ventures have the exclusive rights of production, distribution and sales of products under the Wahaha brand.
11/04/07 Further to recent articles that have appeared in the Chinese press, Groupe DANONE confirms that it is in discussions with Mr. Zong, its partner in the Danone Wahaha joint ventures.
These joint ventures are held 51% by Groupe DANONE, and 49% by Chinese shareholders. In accordance with agreements signed by Mr. Zong and approved by Chinese authorities, these joint ventures have the exclusive rights of production, distribution and sales of products under the Wahaha brand.
Groupe DANONE intends to ensure the proper application of agreements entered into with Mr. Zong. In this context, discussions have been initiated pertaining to the relationship between the Danone Wahaha joint ventures and other non-integrated companies developed by Mr. Zong.
As a reminder, Groupe DANONE has developed promising business ventures with leading Chinese companies in fresh dairy and in fruit juices.