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A Coca-Cola piece of art made out of Coca-Cola cans at the streets of China

China’s Coca-Cola Employees Down Tools After Company Sells Assets

Nov 28, 2016 08:44 AM EST

Workers at three different Coca-Cola plants in China went on a strike on Monday, demanding that they should be involved in undertakings carried out by the firm that may affect their work. The move comes after the company sold its assets to a local Chinese firm.

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

S. Rina |

Nov 20, 2016 06:22 AM EST

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.