Danone has failed to reach an agreement by the 10 April deadline in the long-running dispute with its joint venture partner Hangzhou Wahaha.
Danone and Wahaha chairman Zong Qing Hou entered into negotiations in December after a Chinese court ruled in Zong’s favour, finding that he was entitled to use the Wahaha trademark outside the joint venture.
According to local reports, Danone is looking to exit the partnership. However, it is believed that the two groups cannot settle on a price.
While Danone told just-food today (14 April) that it was unable to comment on the status of the talks, the group insisted that it believed a solution will be reached.
“We anticipate a settlement that is acceptable to both parties,” a spokesperson for the food group said.