Deals
Swire Near Deal for $1 Billion Coke Bottling Operations
- China Foods in August said it was exploring the stake sales
- Coca-Cola is refranchising its bottling operations worldwide
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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., people 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 people said, asking not to be identified as the information is private. The deal could value the businesses at about $1 billion, according to the people. An announcement may come as soon as this week, one of the people said.