- Hong Kong-based business conglomerate Swire Pacific Ltd said its wholly owned subsidiary, Swire Coca-Cola Limited, is planning to acquire the packaging and distribution operations of Coca-Cola Co KO in Vietnam and Cambodia.
- The company will acquire Coca-Cola Indochina for $1.02 billion in cash.
- The transactions will be Swire Coca-Cola’s first investments in South East Asia.
- After closing, Swire Coca-Cola will own and operate Coca-Cola Beverages Vietnam Ltd, which has three bottling facilities in Vietnam, and Cambodia Beverage Company Ltd, with one bottling facility in Cambodia.
- After the acquisition, Swire Coca-Cola’s franchise population will expand by 15% to 876 million people.
- “This expansion of territories is part of a broader strategy to expand the global scale, volume, and revenues of our bottling business,” said Patrick Healy, Chairman of Swire Coca-Cola.
- Price Action: KO shares are trading higher by 0.46% at $62.79 in premarket on the last check Monday.
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