News

CHINA: Coca-Cola Co, Huiyuan deal still under review

Most popular

What rum needs to do to recognise its potential

Technology bringing tasting events closer to home

A-B InBev's Craft Brew Alliance purchase - Comment

What does Brexit mean for drinks trademarks?

Why single malt should ignore its core consumer

MORE

China's commerce minister has said that Coca-Cola Co's US$2.4bn bid to buy Huiyuan Juice Group is still under review, as the deadline for approval looms.

Commerce minister Chen Demin told the China's National People' Congress on Tuesday (10 March) that a decision on the takeover proposal would be "fair and just", according to local reports.

Before Christmas, Coca-Cola and Huiyuan set a deadline of 23 March, by which date they hoped to gain approval for the deal. If successful, Coca-Cola's bid would become one of the biggest foreign takeovers in China's history.

Hong Kong-based Huiyuan, which is China's largest juice firm, released a statement last week following speculation that some Coca-Cola board members had turned against the deal in light of the global economic downturn.

Huiyuan said that it is "not aware of the views of any [Coca-Cola] directors" and that it "has not received any notification of any change in the terms of the offers".

Coca-Cola last week announced that it would invest US$2bn in China over the next three years, on top of the Huiyuan bid.

 


Related Content

"New brands, new products" - Coca-Cola, Heineken and the packaging industry's e-commerce evolution...

The Coca-Cola Co reaps rewards of Quincey's innovation bet - Analysis

The Coca-Cola Co reaps rewards of Quincey's innovation bet - Analysis...

Why is The Coca-Cola Co buying Costa? - Comment

Why is The Coca-Cola Co buying Costa? - Comment...

What can the soft drinks industry learn from The Coca-Cola Co? - Comment

What can the soft drinks industry learn from The Coca-Cola Co? - Comment...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?