HONG KONG (AP) — The Coca-Cola Co., the world’s biggest beverage company, moved to expand its operations in the fast-growing Chinese market Wednesday with a $2.5 billion bid for major juicemaker China Huiyuan Juice Group.
Fruit juices for sale at the Huiyuan Beverage and Food Group center in Beijing.
Fruit juices for sale at the Huiyuan Beverage and Food Group center in Beijing.
Under the deal, Coca-Cola’s wholly-owned subsidiary Atlantic Industries would purchase the Chinese company’s shares for 12.20 Hong Kong dollars ($1.56) each, almost triple their last closing price, the companies said in a joint statement to the Hong Kong stock exchange. That would value the Beijing-based juice producer at around HK$17.9 billion ($2.3 billion).
http://edition.cnn.com/2008/BUSINESS/09/03/coca.cola.juice.bid.ap/index.html