S KOREA: Names surface for CCA South Korea sale

By just-drinks.com editorial team | 1 May 2007

Two names have surfaced as in the running for Coca-Cola Amatil's South Korean operations.

LG Household & Health Care Co. confirmed yesterday (30 April) that it has made a bid for Coca-Cola Korea Bottling Corp. SPC Group in South Korea threw its hat into the ring late last month.

Local reports have also suggested that CVC, Coca-Cola FEMSA and Woongjin Capital are also interested in acquiring the unit.

While Goldman Sachs JBWere, enlisted by CCA to assess ownership options for the South Korean business, has estimated the value to be between A$400m (US$332m) and A$500m, South Korean media reports have suggested the operations could garner as much as A$1bn.

CCA will take a decision on whether to sell the unit later this month.

Sectors: Soft drinks, Water

Companies: CCA, Coca-Cola FEMSA