13-02-2014 02:37 AM | France

Danone to double stake in China dairy firm for $665m

France's Danone SA (DANO.PA) will spend $665 million to lift its effective stake in China's top dairy firm, China Mengniu Dairy Co Ltd (2319.HK) as it seeks to boost its presence in one of its most important markets.

The 486 million euro investment by the world's biggest yoghurt maker will see its effective holding in Mengniu rise to 9.9 percent from 4 percent, making it the Chinese company's second-biggest shareholder.
Full Story : Reuters