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Danone terminates China deal

This article was originally published in The Tan Sheet

Executive Summary

Groupe Danone terminated a series of joint venture contracts signed with Mengniu Dairy Group of China in December 2006, the health food firm reports Dec. 18. According to Paris-based Danone's release, both parties agreed to end their pact after prerequisites for further investments were not met within an agreed timeframe and some conditions were not sufficiently advanced. They say the termination will not affect future cooperation opportunities...
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