Swire Pacific in talks to buy Coca-Cola bottling assets in China: Bloomberg
(Reuters) - Hong Kong conglomerate Swire Pacific Ltd (0019.HK: Quote) is in talks to buy Coca-Cola Co's (KO.N: Quote) 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. 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)
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