(Bloomberg) -- Swire Pacific Ltd. is buying Coca-Cola Co.’s bottling operations in Vietnam and Cambodia for $1.015 billion, marking the Hong Kong conglomerate’s first expansion into the Southeast Asian beverages market. Most Read from BloombergThe deal will “expand the group’s beverages business into one of the most rapidly growing beverages markets,” Swire said in a stock exchange filing on Monday. Swire has a long-standing relationship with Coca-Cola, and previously bought the soft-drink maker’s bottling operations in southern China in 2016. And in 2020, Swire Properties Ltd. agreed to sell a stake in a Hong Kong office tower to private equity firm Gaw Capital Partners for almost $1.3 billion. Most Read from Bloomberg Businessweek©2022 Bloomberg L.P.

Source: The Star July 18, 2022 10:23 UTC