--FILE--Tins of Mengniu Arla milk powder are for sale at a supermarket in Xuchang city, central Chinas Henan province, 23 February 2014. Danone ag
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Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W8XB99File size:
28.1 MB (584.1 KB Compressed download)Releases:
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3840 x 2560 px | 32.5 x 21.7 cm | 12.8 x 8.5 inches | 300dpiDate taken:
23 February 2014Photographer:
ImaginechinaMore information:
--FILE--Tins of Mengniu Arla milk powder are for sale at a supermarket in Xuchang city, central Chinas Henan province, 23 February 2014. Danone agreed to pay HK$4.39 billion ($566 million) for a 25 percent stake in Yashili International Holdings Ltd. under a plan to improve technology and boost production at the Chinese infant milk formula maker. The Paris-based maker of Dumex baby milk powder offered HK$3.70 per share, 17 percent more than the last closing price, according to a Hong Kong stock exchange statement. The investment broadens Danone¯s role in China¯s baby formula market, which is projected to more than double to 191 billion yuan ($31 billion) in the four years ending 2017, according to Euromonitor International. That growth outlook has led to intensifying competition, with analysts predicting a 13 percent drop in annual sales this year at Yashili, a unit of China Mengniu Dairy Co., according to data compiled by Bloomberg.