CHINA: Wahaha Group secures bank funding - report
In 2009, Danone agreed to sell its 51% stake in a joint venture with Wahaha
The Bank of China has signed an agreement to lend the Hangzhou Wahaha Group (CNY10bn) US$1.56bn, according to a report.
The bank will lend to the Chinese food and beverage firm to help it "explore overseas markets and diversify", China Daily reported on Saturday (20 August).
In 2009, Danone agreed to sell its 51% stake in a joint venture with Wahaha, bringing to an end a long-running global dispute between the two firms.
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