Groupe Danone
The "foreign partners" took 51%, while the "Chinese partners" held 49% (of which WHH holds 39% and employees own 10%). Groupe Danone and Peregrine together invested US$70 million in return for the stake in five joint venture WHH companies with the exclusive rights of production, distribution and sales of products under the Wahaha brand. When Peregrine collapsed in 1998, Groupe DANONE acquired its stake in the JVs, and became majority owner.