PARIS, Dec. 3, 2001 (PRIMEZONE) -- Groupe DANONE (NYSE:DA) announced today that it has entered into an agreement to sell its 60% interest in its breweries based in Wuhan, China, to CRE Beverage Limited, a joint venture between China Resources Enterprise Limited and South African Breweries Plc.
The Wuhan breweries accounted for approximately two-thirds of Groupe DANONE's beer revenues in China last year.
The transaction is subject to various approvals, including regulatory approvals.
The proposed sale reflects Groupe DANONE's continuing strategy to focus on its three core businesses: Fresh Dairy Products, Water and Non-alcoholic Beverages, and Biscuits.
In the Asia-Pacific region, Groupe DANONE is the market leader in Biscuits and Water and is the largest beverage company in China.