Coca-Cola Amatil sells Korean unit to LG Household
Dated: 6 September 2007
Sydney-based soft drinks manufacturer Coca-Cola Amatil has signed a formal agreement with LG Household & Health Care for the sale of its South Korean bottling business.
The sale proceeds, including net debt, are expected to be in line with previous guidance of up to $434 million (A$545 million), with the final purchase price being determined after an independent third party review of the audited accounts.
The Coca-Cola Korea Bottling Company (CCKBC) deal is expected to be completed in late October, subject to the satisfaction of conditions including Korean regulatory approvals.
In a separate and subsequent transaction, it has also been proposed that The Coca-Cola Company will acquire 10 percent of CCKBC.
(2 October 2008) A consumer survey conducted by AFIC in five Asian countries shows that consumers are ready to accept benefits from biotechnology-derived foods. Genetically modified foods will most...
(1 October 2008) My friends in the industry have been excited lately about expanding their businesses in India. I share their sentiment. Despite the economic uncertainly worldwide, India shines as...
(1 October 2008) The Coca-Cola Company says it plans to make cash offers to purchase China Huiyuan Juice Group Limited, a Hong Kong-listed company, which owns the Huiyuan juice business in China. ...
(1 October 2008) China Yurun Food has reported its interim results for the six months ending 30 June 2008. During the period, Yurun's turnover amounted to HK$6,043 million ($775 million) compared ...
(1 October 2008) Emerson Process Management has opened its Southeast Asia Service Centre in Singapore early last month to offer instrumentation and control services such as repairs, diagnostics te...
(1 October 2008) Pilpel Fine Foods Yehiel Kaplan says the company’s range of soups contains fresh vegetables that are not frozen, dehydrated and powdered. The increase in the number of working mot...
(1 October 2008) Hong Kong's Guide A-Way International Food says its new automated salmon processing line that exceeds the international safety and hygiene standards. The proof? It became the offi...
(1 October 2008) From November 27 to 28, Munich International Trade Fairs will be holding its second ''drink technology India'' conference in Mumbai. The conference is supported by the German Food...
While Tesco had previously resisted offering mortgages on the grounds that the margins were so tight that they were unprofitable, finance director Andrew Higginson said that the credit crunch seems to have created an opportunity. Tesco may begin offering home mortgages to compete with the major lenders.
In response to consumer research and the global trend for convenience, South Africa's Pick n Pay has opened its first small format convenience store in Fairland, Johannesburg.
Marks & Spencer has opened its first store in mainland China with hopes that it might lift flagging results. As the flagship store opened on West Nanjing Road, Shanghai’s premier shopping street, the UK retailer reported its worst performance for three years with like-for-like UK sales down by over six per cent over the last three months.
Sorin Minea, chairman of the Romanian Federation of Food Industry Business Owners (Romalimenta) says the food industry is currently overdeveloped in Romania and explains that the weight of current expenses...
US grocers including Whole Foods Market, Kroger and Stop & Shop have had to hire third party verifiers to root out produce that contains pesticide residue despite organic seals. Some supposedly organic producers are certifying conventionally-grown produce in order to increase the price.
Tesco, Britain's biggest retailer, has shown it operates best in tough markets, racking up a 10.3 per cent increase in profit of €1,824 billion for the first six months of 2008 to 23 August. Total sales rose 13.8 per cent to €32.1 billion.
