CHINA TOPIX

11/02/2024 03:39:51 pm

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Hong Kong firm Swire Pacific revealed on Friday it will buy Coca-Cola bottling assets in China for 5.87 billion yuan ($852 million).

Coca Cola sells bottling assets in China to Swire Pacific

Coca Cola divested its bottling business in China as it sold its assets to Swire Pacific Ltd. for 5.87 billion yuan ($852 million), the Hong Kong conglomerate announced on Friday. Swire will acquire the manufacturing and distribution assets from China Foods Ltd., which is a subsidiary of state-owned food firm COFCO Corp.

China's Cofco bought the remaining 49 percent stake of Netherland-based Nidera.

China's COFCO Assumes Full Ownership of Nidera

China's state-backed grain trading firm Cofco Corp. announced on Tuesday that it would acquire the remaining 49 percent stake of Netherlands-based grain trader Nidera NV.

Australian Vintage is betting that China's growing appetite for wine and its partnership with COFCO will lift its sales in China. Reuters/Bobby Yip

Australian Vintage Partners with COFCO for Wine Push in China

Australian Vintage, maker of the wine brand McGuigan, signed a distribution deal with China's largest food processor, manufacturer and trader, the state-owned COFCO, a development that will make its product available in one of the largest growing wine market.

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