Coca-Cola to buy Chinese juice maker for $2.3 billion
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Wed, 03 Sep 2008 01:27:07 GMT |
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Reuters |
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HONG KONG (Reuters) - The Coca-Cola Company said on Wednesday it will offer to buy Chinese juice maker China Huiyuan Juice Group Ltd <1886.HK> for a total of HK$17.92 billion ($2.30 billion), in a deal that would expand its presence in China's fast-growing beverage industry.The iconic U.S. company will pay HK$12.20 for each Huiyuan share -- nearly triple the stock's closing price of HK$4.14 on Friday. Huiyuan shares were suspended on Monday.($1=HK$7.807)(Reporting by Alison Leung)
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