| Coca-Cola may lose interest in Huiyuan |
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| Tuesday,May 12,2009 Posted: 09:00 BJT(0100 GMT) |
| From:za Article type:Original |
Huiyuan attracted attention from Coca-Cola because of the juice company's 44 percent market share.Coca-Cola is set to abandon any attempt to take over Huiyuan Juice Group.Shares in the leading juice maker recently rallied 22 percent on hopes that the Atlanta-based US company was set to take a compromise minority shareholding after a full $2.5 billion takeover was blocked by Chinese regulators.
But, according to a source close to the company, Coca-Cola, the world's largest beverage drinks maker with more than $28 billion worldwide sales, wants complete control of the company or no involvement at all.
"They are now going to give up the deal. They are not interested in Huiyuan anymore. There might have been market excitement about a minority shareholding but Coca-Cola wants full control. Buying a small stake with no decision power is not what they want at all," said the source. |
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