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World Dairy Magnate Becomes Shareholder of Chinese Enterprise
The Donone Asia Pte. Ltd. of France, a dairy magnate in the world, has become one of the sponsor shareholders of China's largest dairy enterprise.
When the Guangming Dairy Ltd. in Shanghai was reshuffled to a share holding company, five percent of the 500 million yuan (about US$60 million) total capital stocks were bought by Donone, Wang Jiafen, board chairman of the company, announced Wednesday, November 29.
The Shanghai Milk Co. and Shanghai Food Shareholding Co., Ltd., the largest two shareholders of Guangming Dairy, take 40 percent of the stock shares respectively.
Wang said the structure of the stock ownership is "very reasonable." The participation of Donone will help introduce modern management expertise to Guangming Dairy.
Negotiations between Guangming and Donone is going on to bring the Danone-funded enterprises in China under the management of Guangming, according to Wang.
The sales volume of Guangming Dairy was 1.5 billion yuan last year, and it is expected to grow by 40 percent this year.
It is learned that Guangming Dairy is working for listing in the Chinese stock market.
Hundreds of French Entrepreneurs Tapping for Market in China
Following the visit to China by magnates from the French industrial and commercial circles with President Jacques Rene Chirac taking the lead last October, hundreds of medium and small owners of French enterprises have come to China for a commercial "skirmish" in order to get a share in the huge market of over one billion consumers.
The businessmen are from the following walks of life: architecture, computer, electrical equipment fittings, medical equipment, plastic and rubber products, hardware fittings, tourism and hotels, leather processing, and the art of gardening and grape planting, etc. They are scheduled to make a 10-day tour in the cities of Beijing, Xi'an, Shanghai, Guangzhou and Hong Kong etc.
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