Strauss Expands Chinese Water Venture with Haier
Published on by Water Network Research, Official research team of The Water Network in Business
Israel's Strauss, Haier expand water joint venture in China
Strauss Water, a subsidiary of Israeli food and beverage company Strauss Group, agreed to expand its joint venture in China with the Haier Group by including technology for water purification products that was owned by Haier
The new joint venture company, Qingdao HSW Health Water Appliance Co, will be 66 percent owned by the Haier Group and 34 percent by Strauss Water.
To complete Strauss Water's share in the joint venture to 34 percent, the Israeli company will pay Haier 31 million shekels ($8.0 million). Strauss Water has an option to purchase up to an additional 15 percent of the joint venture in 2017 for a consideration determined in accordance with the valuation of the joint venture but which will not exceed 90 million shekels.
Source: Reuters
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