Bright Food of China has emerged as the highest bidder for the 50 per cent stake in Yoplait, the global yoghurt brand, that has been put up for sale by its private equity owner, according to people familiar with the deal.

　　据知情人士透露，中国的光明食品集团(Bright Food)已成为私人股本所有者挂牌出售的全球酸奶品牌Yoplait 50%股权的最高出价者。

　　General Mills, the US food group that owns the Yoplait licence in the US, is also in the running, as is Nestlé of Switzerland.

　　瑞士的雀巢(Nestlé)以及拥有Yoplait美国经营权的美国食品集团General Mills也参与了竞标。

　　The Yoplait brand, the world’s second-biggest yoghurt brand by sales, is jointly owned by PAI, which is selling its 50 per cent stake, and Sodiaal, the French farmers’ co-operative.

　　按销量计算，Yoplait是全球第二大酸奶品牌。该品牌由正出售其50%股权的PAI和法国农业合作社Sodiaal共同拥有。

　　However, they add that the complexities of the sale mean the winner will have to show more than just cash.

　　不过，知情人士补充表示，这宗出售交易的复杂性意味着，赢家需要展现的不仅仅是财力。

　　The structure of the company, along with the interest of the French government, which is keeping an eye on proceedings, means different interests are at play over the choice of buyer.

　　该公司的结构以及一直关注事态发展的法国政府的兴趣，意味着在买家的选择上，不同利益群体都在发挥其影响。

　　While PAI’s aim is to maximise value for its shareholders, the farmers are more interested in a partner they can work with.

　　虽然PAI的目标是实现股东价值最大化，但农民们更关心的是要有一家能够与之合作的伙伴。

　　The French government, having once labelled yoghurt a strategic asset when there was speculation in the media that PepsiCo of the US was eyeing Danone, has said its state-backed fund could come in as a shareholder.

　　法国政府表示，政府支持的基金可能会以股东身份参与进来。当媒体猜测美国的百事可乐(PepsiCo)对达能(Danone)感兴趣时，法国政府曾表示，酸奶是法国的一项战略资产。

　　But Yoplait’s owners are understood to prefer an international company which would be able to help the brand develop in emerging markets.

　　然而，据信Yoplait的所有者更倾向于选择一家国际企业，以帮助该品牌在新兴市场扩张。

　　Late last year the joint owners of Yoplait rejected a €1.4bn ($1.8bn) takeover bid for the whole of Yoplait from French private dairy company Lactalis, saying it was too low.

　　去年末，Yoplait的共同所有者拒绝了法国私人乳品公司Lactalis以14亿欧元（合18亿美元）全盘收购Yoplait的提议，称其出价过低。

　　Bright Food’s high bid might reflect the hurdles it is up against, bankers said. It is neither French nor international.

　　银行人士认为，光明食品的高报价可能反映了其面临的障碍。光明食品既不是一家法国公司，也不是一家国际企业。

　　The Chinese dairy company has lost a degree of credibility by balking at deals at the last minute: most recently, it abruptly walked from United Biscuits of the UK and GNC, the US vitamin retail chain.

　　由于曾不止一次在最后一刻放弃交易，这家中国乳制品公司已经丧失了一定的可信度：就在最近，该公司突然中断了对英国联合饼干(United Biscuits)和美国维他命连锁企业GNC的收购。

　　Nestlé and General Mills declined to comment.

　　雀巢和General Mills拒绝置评。