Reuters: Hot Stocks: China Mengniu surges to 17-mths high after Danone's investment

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

China Mengniu surges to 17-mths high after Danone's investment May 20th 2013, 01:47 HONG KONG | Sun May 19, 2013 9:47pm EDT HONG KONG May 20 (Reuters) - Shares of China Mengniu Dairy Co Ltd surged 8.6 percent to a 17-month high on Monday after the Chinese dairy products maker said Danone Group would invest in the company and team up in developing yoghurt products in China. Its shares rose to HK$26.60, their highest since December 2011, outperforming a 1.4 percent gain in the benchmark Hang Seng Index. Mengniu said on Monday substantial shareholder Farwill Ltd would transfer an 8.3 percent stake in the company to a joint venture involving Danone Group, in a deal worth HK$3.6 billion ($463.74 million).

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions