Swire Pacific in talks to buy Coca-Cola bottling assets in China: Bloomberg
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
The logo of U.S. beverage group Coca-Cola is seen at the entrance of a visitors center of Coca-Cola Schweiz GmbH in Bruettisellen, Switzerland October 11, 2016. REUTERS/Arnd Wiegmann
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Reuters) - Hong Kong conglomerate Swire Pacific Ltd <0019.HK> is in talks to buy Coca-Cola Co's (NYSE: KO) bottling assets in China from Cofco Corp's [CNCOF.UL] China Foods Ltd <0506.HK> unit, Bloomberg reported.
A potential deal could value the business at about $1 billion and the companies could announce a deal as soon as this week, Bloomberg said, citing people familiar with the matter. http://bloom.bg/2fz2VPL
China Foods said in August it was considering a potential disposal of its stakes in companies engaging in Coca-Cola bottling operations by the way of a public sale.
Swire Beverages is one of the largest soft drink bottlers for Coca-Cola Co in the world, and works closely with the U.S. firm on brand development and marketing.
Swire Pacific, China Foods and Coca-Cola China were not immediately available for comment.
(Reporting by Gaurika Juneja in Bengaluru; Editing by Gopakumar Warrier)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Howard G. Buffett to Retire from The Coca-Cola Company Board of Directors
- U.S. derivatives regulator to move on from Dodd-Frank under Trump
- Brazil's Temer to call Trump as country seeks business openings