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French food group Danone is selling its 23 percent stake in China's biggest pure-juice maker Hui-yuan, for around 200 million euros. The stake will be sold to Hong Kong-based private equity group SAIF partners, which is a venture capital fund focused on China and India.
The sale is in line with Danone's strategy to focus its water division on natural mineral and spring water-based beverages. Danone operates 20 factories in China. It sold its stake in Chinese food and beverage maker Hangzhou Wahaha Group last September.