F and N, Coca Cola tie up

F and N, Coca Cola tie up

SINGAPORE (AFP): Singapore beverage-based group Fraser and Neave Ltd. (F and N) and the Coca-Cola Co. on Friday announced an equity deal giving F and N a stake in a major Coca-Cola bottler based in Australia.

Under a sales and purchase agreement, F and N would sell its 75 percent stake in F and N Coca-Cola Pte. Ltd. in exchange for 5.63 percent of Sydney's Coca-Cola Amatil Ltd., a press statement said.

This would give Coca-Cola full ownership of FNCC and majority ownership of bottling operations in Brunei, Cambodia, Nepal, Pakistan, Sri Lanka, Singapore and Vietnam.

In turn, F and N will get a stake in Coca-Cola bottling operations in Australia, Fiji, Indonesia, New Zealand, Papua New Guinea, the Philippines and South Korea.