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SAIF To Purchase Stake In China Huiyuan Juice

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economy July 28, 2010 (Chinavestor) SAIF Partners, a venture capital firm that focuses on investments in China and India, will purchase almost 23% of China Huiyuan Juice Group (1886:HK) from France's Groupe Danone for $260 million. China Huiyuan Juice Group (1886:HK) is China's largest maker of pure juice products.

SAIF, which managers $4 billion, is expected offer HK$6 for Danone's interest in China Huiyuan Juice Group (1886:HK), which is above today's closing price of HK$5.42. Danone sold a stake in Hangzhou Wahaha Group (HWGZ:CH) in 2009 and said that plans to build its own operations in China rather than use joint ventures with local companies.

The investment would be SAIF’s biggest in China, according to Bloomberg News. China Huiyuan Juice Group (1886:HK) competes with American beverage giants such as Coco-Cola (NYSE:KO) and PepsiCo (NYSE:PEP) for the affections of Chinese consumers. Coke (NYSE:KO) tried to acquire China Huiyuan Juice Group (1886:HK) for $2.3 billion last year, but Chinese regulators rejected the overture.



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