Aviko, a subsidiary of the Dutch company, Royal Cosun, and Snow Valley Agriculture have agreed to end their joint venture in China.
Both partners have determined that their visions regarding the growth strategy are too diverse. There is too little basis to continue successfully together.
Following constructive negotiations, it was decided that Snow Valley Agriculture would take over Aviko's 51% share package. Aviko will continue its growth ambitions in China by means of alternate supply lines.
The Chinese authorities need to grant permission for the completion of this agreement. It is expected that the transaction will be completed by the end of the year.
Source: Cosun