date:Jun 19, 2013
Mengniu struck a deal with France's Danone, the world's largest yoghurt maker. The deal involves the creation of a joint venture between Danone and state-owned Chinese food enterprise COFCO, Mengniu's biggest shareholder.
Danone will also set up a joint venture with Mengniu for the production and sale of yoghurt in China. Danone will own 20 percent of the business.
Hong Kong-listed Yashili International, with a market value of $1.5 billion, is 52.19 percent controlled by a holding company con