SHANGHAI, Oct 15 (Reuters) - France's Groupe Danone will sell its 20 percent stake in major Chinese dairy producer Bright Dairy and Food Co, the Chinese company said on Monday.
The stake will be sold to the parent of Bright Dairy and another Shanghai-based company, Bright Dairy said. It did not specify the selling price.
Danone and Bright Dairy will also end an arrangement under which Bright Dairy used and promoted the Danone trademark in China, the Chinese company said.
In exchange for ending the arrangement, Danone will pay 330 million yuan (.83 million) to Bright Dairy, it said.
REUTERS SI PM2008