- Reuters•17 days ago
Hong Kong conglomerate Swire Pacific Ltd said on Friday it will acquire Coca-Cola bottling assets in China for 5.87 billion yuan ($852 million), betting on growing consumption in the mainland of non-alcoholic ready-to-drink beverages. Swire said it will buy China manufacturing and distribution assets of non-alcoholic ready-to-drink beverages from China Foods Ltd, a subsidiary of state-owned food firm COFCO Corp, for 4.65 billion yuan. The conglomerate will also buy the 12.5 percent stake it does not own in non-alcoholic ready-to-drink venture Swire Beverages Ltd from Coca-Cola Co for 1.22 billion yuan, it said in a statement.
- The Wall Street Journal•17 days ago
Coca-Cola reached a definitive agreement to divest its bottling stakes in China for roughly $1 billion, part of broader strategy to focus on its more profitable concentrate-making business.
- Bloomberg•18 days ago
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., people with knowledge of the matter said.
0506.HK : Summary for CHINA FOODS - Yahoo Finance
CHINA FOODS (0506.HK)
HKSE - HKSE Delayed Price. Currency in HKD
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|Day's Range||3.21 - 3.32|
|52 Week Range||2.42 - 3.94|
|PE Ratio (TTM)||113.78|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|