Philippine Company Seals 1.1 Bln Dlrs Coke PurchasePhilippine 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. |
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