Shanghai’s Bright Dairy to merge

In a government-led consolidation of Shanghai’s food and drink industry, Shanghai Bright Dairy Group will merge with three other food companies to form an entity named Bright Foods.

Bright Dairy & Food Company says its parent, Shanghai Bright Dairy Group, will merge with Shanghai Sugar Tobacco Wine Company (also known as YanTang), Shanghai Agriculture Industry & Commerce Group and Jinjiang Food. Danone holds a 20.9% stake in Bright Dairy.
The consolidation will have total assets estimated at CNY45 billion (