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
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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.
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