July 29 -- Vitasoy International Holdings (0345.HK), a producer of food and beverages, plans to increase its stake in its subsidiary, Shenzhen Vitasoy, from 70 percent to 85 percent, for 61.86 million yuan, reports yicai.com, citing a company filing.

The shares will be acquired from Everbright Group.

In addition, Vitasoy’s wholly-owned subsidiary, Vitasoy China, signed a contract with Everbright Group to sell its shares in Foshan Vitasoy to the latter for 33.78 million yuan.

After the completion of the transaction, Vitasoy China and Everbright will hold respective stakes of 85 percent and 15 percent stake in Foshan Vitasoy.