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Swire Pacific closes 4.65B yuan acquisition of Coca-Cola assets in China

Swire Pacific Ltd. closed on April 1 the acquisition of The Coca-Cola Co.'s bottling assets in mainland China for approximately 4.65 billion Chinese yuan through its subsidiary.

In November 2016, Swire Beverages Holding Ltd. entered into an equity transfer agreement and a master agreement with The Coca-Cola Co. and COFCO Coca-Cola Beverages Ltd. over the three-component realignment of the Coca-Cola bottling system in China.

The transaction has been completed except for the transfer of interests in the Shanghai Shen-Mei Beverage and Food Co. Ltd. Coca-Cola bottling unit, the company noted.

As of March 31, US$1 was equivalent to 6.89 Chinese yuan.