22 July 2008 - Groupe Danone is seeking 1.63 billion euro in order to quit its Chinese joint venture with Wahaha. However, Wahaha is only offering 296 million euro for Danone's interest, reports the French business media.
Danone, which holds a 51% stake in the JV, has been in a long-term dispute with Wahaha over the use of the Wahaha brand name.
According to the reports, both firms ceased legal actions in December 2007 and resumed negotiations further to Chinese and French ministerial interventions.
It is understood that Danone and Wahaha have not met since 9 April 2008.