CHINA: Nestle loses bid for Dengchuan Diequan
Food and drinks conglomerate, Nestle, has lost out in its bid to acquire a controlling share in the Dengchuan Diequan Dairy Co., according to reports from the Chinese Xinhua News Agency. The agency reported that the New Hope Group, based in Sichuan province, acquired a 91.8% stake in the Yunnan province dairy group for CNY55m.
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