 |
Philippine Company Seals 1.1 Bln Dlrs Coke Purchase
Philippine food and beverage giant San Miguel Corp. said Friday it has signed a deal with Coca-Cola of the United States to jointly acquire Coca-Cola Bottlers Philippines Inc. from Australia's Coca-Cola Amatil.
In a disclosure to the Philippine Stock Exchange, San Miguel said the deal was valued at US$1.1 billion while the itself gets a majority 65-percent stake, the ABS-CBN news channel reported Saturday.
Coca-Cola U.S., in turn, has acquired the remaining 35-percent stake in Coca-Cola Philippines' bottling operations.
San Miguel Chairman Eduardo Cojuangco said the re-acquisition of Coca-Cola Philippines is part of the company's plan to add strength to its revenue base.
In This Section
|