Danone Asia Pte. Ltd. (Danone Asia) is likely to sell its 20.01 percent of the shares of Bright Dairy & Food Co., Ltd (Bright Dairy) to Shanghai Dairy Group, another big shareholder of Bright Dairy. If this happens, Danone Asia, Bright Dairy's third biggest shareholder, will withdraw from Bright Dairy completely.
Both Danone Asia and Bright Dairy have denied the rumor. But a reliable source told the Oriental Morning Post that the selling price would soon be negotiated.
Some analysts have said that it is reasonable for Danone to withdraw from Bright Dairy after its hope for holding the latter disappeared completely when Bright Food (Group) Co., Ltd. was established last year.
For more details, please read the full story in Chinese. (http://www.dfdaily.com/node2/node27/node120/userobject1ai31122.shtml)
(China.org.cn September 28, 2007)
