Latest News:  
Beijing   Overcast/Light rain    14 / 9   City Forecast

Home>>China Business

Tingyi, PepsiCo to combine China business

By Chen Lidan (People's Daily Online)

17:34, November 04, 2011

Beijing, Nov.4 (People's Daily Online) --Tingyi Holding Corp., one of the major food and beverage companies in China, is going to swap a stake for the bottling operations of PepsiCo Inc. in China.

Tingyi and PepsiCo Friday announced they have entered into an agreement to form a strategic alliance in China. PepsiCo will transfer its beverage bottling operations in China for 9.5 percent direct equity of Tingyi’s beverage subsidiary.

Tingyi's Chairman and CEO Wei Ing-Chou said, "Ready to welcome a golden age of the Chinese beverage industry amidst intense market competition, Tingyi and PepsiCo will continue building up the capacity to seize market opportunities and satisfy consumers' diversified demands with world-class products."

"To win globally, we need to have absolutely the best business partners locally," said PepsiCo's Chairman and CEO Indra K. Nooyi, "Tingyi has a history of successful partnerships with other companies, and we believe this proposed alliance will combine Tingyi's superb distribution reach with PepsiCo's innovation prowess, significantly enhancing our beverage business in China in the near term while maximizing PepsiCo's future growth potential in the fastest growing beverage market in the world. This is a positive deal for PepsiCo, Tingyi, our existing Chinese bottling partners and consumers in China."

The transaction is subject to regulatory approval in China and the approval of the shareholders of Tingyi. Hong Kong-listed Tingyi, which is more commonly known in China for its Master Kong brand, was suspended from trading early Friday.

  We Recommend  


Leave your comment0 comments

  1. Name


Selections for you

  1. IMF to get financial boost

  2. Kungfu fireman competes in games

  3. Fans perform at 6th Peking Opera Festival

  4. Trapped miners rescued after China coal mine accident kills 8

Most Popular


  1. Future looks bright for China's bond market
  2. Online rumors dangerous to social order
  3. Widespread diesel crisis unlikely for China
  4. China braces itself for population aging
  5. China's aid to Pakistan shows true friendship
  6. China's securities industry pushed to diversify
  7. Experts weigh in on China's economy
  8. WTO sides with China in EU anti-dumping dispute
  9. US has no stomach for S. China Sea military clash
  10. 7 billion mark no cause for alarm

What's happening in China

Nation to prohibit regular lightbulbs in five years

  1. China's watchdog tests J&J baby shampoo
  2. Calls to boost nursing care for the elderly
  3. Credibility of Chinese organic food crippled
  4. Baby arouses concerns over hospital management
  5. More female officers hired to boost image

PD Online Data

  1. Tangerines and oranges
  2. Dried persimmon cake
  3. Guangdong candy
  4. Tangyuan
  5. What do Chinese eat during the Spring Festival?