French dairy maker Group Danone SA said Wednesday it has settled a lengthy dispute with its estranged Chinese partner, agreeing to sell its interests in their joint ventures.

The agreement, which is subject to government approval, "will put an end to all legal proceedings related to the disputes between the two parties," Danone said in an emailed statement.

It gave no financial details of the plan to sell Danone's 51 percent stake in the joint ventures.

The settlement ends a long battle over Danone's complaints that Hangzhou Wahaha Group was running separate businesses selling Wahaha-branded drinks, competing directly with their 39 joint ventures in violation of their joint venture agreement.

The feud between partners in what originally was a showcase joint venture underscored the tensions that can arise as Chinese joint venture partners gain confidence and marketing prowess.

Wahaha's multimillionaire founder, Zong Qinghou, had portrayed his company's quest to control its brand name as a patriotic cause: Wahaha, a name meant to sound like a child's laughter, is now one of China's best-known brands for bottled water and other beverages.

"Chinese people are broad-minded people. Chinese companies are willing to cooperate and grow with the world's leading peers on the basis of equality and reciprocal benefit," Danone's statement cited Zong as saying.

Danone earlier lost a court appeal against a Chinese arbitration commission's ruling in Wahaha's favor. It contended that the partnership's agreement required the Chinese side to contribute its well-known trademark, while the French side supplied capital, expertise and technology.

Danone's CEO and chairman, Franck Riboud, said his company would continue its long-term commitment to China despite the end of the joint venture.

Editor: Lucy