Coca Cola's bottling assets in China may be bought for $1 bn
Hong Kong-based conglomerate Swire Pacific is nearing the acquisition of Coca Cola's bottling assets in China from the state-owned food giant Cofco Corporation's unit China Foods Ltd, reports stated. The deal could value the businesses at about $1 billion. The purchase comes amid the emerging Chinese middle class moving toward foreign brands from fashion apparel to food and beverage products.