FRENCH food and beverage group Danone will invest 2.6 billion yuan (US$417 million) in two deals to strengthen its presence in China and tap the huge market potential.
Prominent Achiever Ltd, 51 percent owned by China's state-owned agricultural and food company COFCO and 49 percent by Danone, will acquire 8.3 percent in China's largest dairy producer Mengniu Dairy Co from COFCO, according to a
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Global food and beverage companies are likely to be the next major targets for Chinese enterprises pursuing overseas mergers and acquisitions, since tough global economic conditions are creating takeover opportunities.
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