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Coca Cola acquisition bid spurned
By Jin Jing |
March 18, 2009, Wednesday
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Online Edition
Online Edition
COCA Cola Inc today failed to receive anti-trust approval from the Chinese government for its acquisition of Huiyuan Juice Group Co, dampening Coke's efforts to win a bigger slice of China's rapidly growing juice market.
The Ministry of Commerce announced today it would not allow the world's largest soft-drink maker to take over Huiyuan in an US$2.4 billion deal agreed in September last year.
The decision was made after nearly three months of deliberations and the deal was the first rejection recorded after China's anti trust laws took effect on August 1 last year.
The Ministry of Commerce announced today it would not allow the world's largest soft-drink maker to take over Huiyuan in an US$2.4 billion deal agreed in September last year.
The decision was made after nearly three months of deliberations and the deal was the first rejection recorded after China's anti trust laws took effect on August 1 last year.
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