Danone Seeks 1.63 Bln Euro to Quit Wahaha

Groupe Danone is seeking 1.63 billion euro in order to quit its Chinese joint venture with Wahaha. However, Wahaha is only offering 296 million euro for Danone's interest, reports the French business media.

Danone,
which holds a 51% stake in the JV, has been in a long-term dispute
with Wahaha over the use of the Wahaha brand name.

According to the reports, both firms
ceased legal actions in December 2007 and resumed negotiations
further to Chinese and French ministerial interventions.