Yashili NZ agrees to sell $18.7 mln of base powder dairy products to Danone

Mon, 22 Aug 2016

By Jonathan Underhill Aug. 22 (BusinessDesk) - Yashili New Zealand Dairy Co, the local unit of Chinese-owned Yashili International Holdings, has agreed to sell as much as $18.7 million of base powder dairy products to Danone under a contract that will run until the end of the year. The deal is disclosed in a notice to the Hong Kong stock exchange because Danone Asia owns 25 percent of Yashili International and deemed a "connected person". The notice didn't cite volumes to be sold and the value given is described as an "annual cap for t...

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