国产人人色I色婷婷综合久久中文字幕雪峰I奇米色777欧美一区二区I久热久热aV爽青青在线I国产av喷水I国产伦精品一区二区三区免.费I高潮av在线Iww欧美一级I91天天看I黄a在线91I九一无码中文字幕久久无码色…I丰满国产精品视频二区

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Business

Coca-Cola bottling stakes sale mulled by SOE

By Wang Zhuoqiong | China Daily Europe | Updated: 2016-08-28 16:07

State-owned China Foods Ltd is considering a sale of its stakes in Coca-Cola bottling factories, a move that would reshape its near duopoly on the mainland with Swire Pacific Ltd since the beverage giant began to refranchise its bottling operations.

China Foods is considering selling stakes in 10 Coca-Cola bottling companies in the country through a public tender, it said in a Hong Kong Stock Exchange filing on Aug 23.

The company will sell stakes varying from 7.15 percent to 100 percent through the China Beijing Equity Exchange.

Half of the bottling facilities listed for sale are joint ventures with Swire Pacific. No value was given.

China is the world's largest consumer market for food and beverages products, as an emerging middle class gravitates toward foreign brands. The sales could potentially leave Swire a big portion of bottling facilities in southern China if the Hong Kong-based company were to bid for it.

China Foods operates Coca-Cola bottling businesses in 15 provinces, with the majority in northern China, including Beijing and Hebei province, according to the firm's annual report.

Swire operates 11 plants in seven provinces including Guangdong and Fujian. In the first half of the year, attributable profit from its China beverage business was HK$119 million ($15.3 million; 13.6 million euros), a 51 percent drop from a year earlier due to the country's economic slowdown.

Shares of China Foods have declined almost 11 percent this year, while Swire Pacific has dropped 0.8 percent.

According to its half-year report, China Foods' soda water and juice sales have declined 5 percent and 18 percent, respectively, with bottled water up 27 percent year-on-year.

Coca-Cola Co in February announced plans to significantly speed up refranchising of its bottling operations, as it seeks to reduce exposure to facilities that are more capital-intensive and low-margin.

The world's largest soft-drink company that month signed a letter of intent to also refranchise its China bottling operations to China Foods and Swire.

Agencies contributed to this story.

wangzhuoqiong@chinadaily.com.cn

 Coca-Cola bottling stakes sale mulled by SOE

A coca-cola bottling line in Shijiazhuang, capital of Hebei province. Chen Jianli / Xinhua

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US