Coca-Cola to buy remaining stake in Philippine's j.v.

by Eric Schroeder
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ATLANTA — The Coca-Cola Co. has signed a definitive agreement to take over its Philippine soft drink joint venture from San Miguel Corp., the Philippine’s largest food and beverage company.

As part of the transaction, Coca-Cola will acquire the 65% share in Coca-Cola Bottlers Philippines, Inc. (C.C.B.P.I.) previously held by San Miguel for an undisclosed amount.

San Miguel and Coca-Cola have been partners in the joint venture since April 2001. Prior to that, the bottling franchise had been solely owned by San Miguel since 1927.

The deal remains subject to certain closing conditions.

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