Swire near deal for Coke bottling assets in China
It will purchase stakes in Coca-Cola bottlers from Cofco's China Foods subsidiary in a deal that could value the businesses at about US$1b, sources say
Hong Kong
HONG KONG conglomerate Swire Pacific Ltd is nearing the acquisition of Coca-Cola bottling assets in China from a unit of state-owned food giant Cofco Corp, sources with knowledge of the matter said.
Swire is close to an agreement to purchase stakes in Coca-Cola bottlers from Cofco's China Foods Ltd subsidiary, the sources said, asking not to be identified as the information is private. The deal could value the businesses at about US$1 billion, according to the sources. An announcement may come as soon as this week, one of the sources added.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue