The Coca-Cola Company has offered to buy major juicemaker China Huiyuan Juice Group Ltd in a deal worth as much as $US2.5 billion ($A2.99 billion) in cash, the companies said on Wednesday.
Under the deal, Coca-Cola wholly-owned subsidiary Atlantic Industries would purchase the Chinese company's shares for HK$12.20 ($1.88) each along with all outstanding convertible bonds and options, Huiyuan said in a statement to the Hong Kong stock exchange.
The deal values Huiyuan at about HK$17.9 billion ($A2.75 billion) and its shares at triple their last closing price, HK$4.14 (64 cents).
"This acquisition will deliver value to our shareholders and provide a unique opportunity to strengthen our business in China," said Muhtar Kent, CEO of Coca-Cola, which has operated in China since 1979.
Huiyuan shares, down more than 50 per cent this year, were trading at HK$10.98 ($1.69) early Wednesday.
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