Danone sells 51 % of actions in the joint venture with Chinese WahahaToday, on September, 30th, the largest manufacturer of yoghurts in world Groupe Danone SA has declared that agrees to sell the of 51 % of actions in joint ventures (joint venture) with Chinese Hangzhou Wahaha Group Co., having put an end to two-year legal disputes round them.
As they say in statement Danone dispatched today by e-mail, Danone and Wahaha have reached “ peaceful settlement “ by means of the Chinese and French governments. The companies do not open the transaction price.
two companies have been involved in more than 30 litigations in the several countries concerning the rights to trade mark Wahaha that means “ laughter of the child “ in the Chinese language. Danone accused chairman Wahaha of Tszun Tsinhou (Zong Qinghou), one of the richest people of China, of illegal creation of the companies and release of products under brand Wahaha, such, as fruit juice and tea, behind frameworks of their partnership.
As transfers Bloomberg, today`s decision Danone will put an end to all judicial disputes about it. Danone has sworn to avoid creation of joint ventures in China in the future and to make all operations by own forces.