Nouvelle
Coca Cola may be approved to acquire Huiyuan by year end
Editor: Zoe Zhang
18 Nov 2008 13:23:44 GMT
Nov. 18, 2008 (China Knowledge) - Coca Cola Co Ltd, the U.S.-based soft drink giant, may get the approval from China's Ministry of Commerce (MOC) on the acquisition of China Huiyuan Juice Group Ltd<1886> by the end of this year, sources reported, citing unnamed sources as saying.
The U.S. company has submitted the application to the ministry for acquiring Huiyuan for US$2.4 billion in September. The ministry then announced that it will review the proposed takeover under the anti-monopoly law that came into effect in August.
BNP Paribas S.A. has been hired by Huiyuan as financial advisor for the deal.
«China Huiyuan Juice Group Limited, an investment holding company, engages in the manufacture and sale of juice and other beverage products primarily in the People’s Republic of China. Its products include fruit and vegetable juices, nectars, juice drinks, vegetable protein drinks, bottled water, tea, and dairy drinks. The company was founded in 1992 and is headquartered in Beijing, China.»
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