Coca-Cola's US$2.4bn proposed takeover of China's Huiyuan Juice Group remains on track, the soft drinks giant has said.

Following news that Huiyuan has appointed French bank BNP Paribas to advise it on the deal, a Coca-Cola Pacific Group spokesperson told just-drinks today (11 November) that the firm was working "in full co-operation with the regulators".

He said that "the filing process is on track", although declined to comment further.

Chinese competition authorities are expected to use the proposed deal, one of the largest foreign takeovers in China's history, as a test of the country's new Anti-Monopoly Law.

Hong Kong-based Huiyuan, which has an estimated 40% share of China's juice market, said in a stock filing yesterday that it has hired BNP Paribas to advise it on the takeover.

The French bank will work with Huiyuan's independent board committee (IBC), comprising four non-executive, independent directors and set up to advise the firm's shareholders on the proposed deal.

Huiyuan stakeholders Danone and Gourmet Grace are not represented on the IBC, the firm said, understood to be because the respective companies have already undertaken to sell their stakes.