BRAZIL: Coke admits bid for RTD tea firm
The Coca-Cola Co. has admitted that it has made a bid to buy Brazilian RTD tea producer Leão Junior.
Coca-Cola Co. told just-drinks today (8 March) that it has made a "standing binding offer" for the company, which produces the Matte Leão. Financial details were not disclosed.
The US soft drinks giant had been linked with Leão Junior but had hitherto been coy on whether it had made a bid for the company.
Coca-Cola said the talks should be wrapped up this month. The acquisition will then go before Brazil's anti-trust authorities.
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