HK's dairy products maker Yashili climbs on sale plan of JV stake to Danone

Yashili International Holdings

17/12/2018 06:24

** Shares of Yashili International Holdings  1230.HK  rise
as much as 4.5 pct to HK$1.40, their highest since Dec 6
    ** Shares rise after the dairy and nourishment product maker
said it plans sale of joint venture stake to strengthen tie with
Danone SA  DANO.PA  
    ** Yashili has agreed to sell 49 pct of Yashili New Zealand
Dairy to a unit of Danone for NZ$157.6 mln ($107.03 mln) net
proceeds as it aims to strengthen strategic partnership with
Danone and to achieve greater synergies  https://bit.ly/2Gki2LV
    ** Yashili is a 51.04 pct-owned unit of China Mengniu Dairy
Co Ltd  2319.HK , and is 25 pct owned by Danone Asia Baby
Nutrition Pte Ltd - a unit of Danone 
    ** As of last close, Yashili shares down 10.7 pct so far
this year and has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 3.6 percentage points in the
past one month
    ** Shares of Mengniu slide 0.8 pct 
    ** The Hong Kong Hang Seng sub-index, tracking consumer
goods companies  .HSCICG , dips up to 0.8 pct


($1 = 1.4725 New Zealand dollars)
(1 HK dollar = 0.1885 New Zealand dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)