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Swire Pacific ( (HK:0019) ) has issued an update.
Swire Pacific has restructured the planned disposal of a 30% minority interest in its Coca-Cola bottling operation in Vietnam, originally agreed via a charter capital sale from Coca-Cola Indochina Pte. Ltd. to ThaiNamthip Corporation Public Company Limited. The original conditional transaction agreement for the Vietnam unit was terminated, and instead a share purchase agreement was executed under which ThaiNamthip’s subsidiary, ThaiNamthip Holdings Limited, acquired 30% of Coca-Cola Indochina for about US$221.1 million in cash.
Following completion and registration, ThaiNamthip now indirectly holds 30% of the Vietnamese bottler through its stake in Coca-Cola Indochina, whose primary asset is the Vietnam subsidiary, meaning both Coca-Cola Indochina and the Vietnam bottling business have become non-wholly owned subsidiaries of Swire Pacific. The company noted that this revised structure, driven by ThaiNamthip’s desire to streamline its investment holdings, constitutes a material variation of a previously disclosed transaction under Hong Kong listing rules, but the new share purchase itself is not a notifiable or connected transaction, limiting additional regulatory implications for shareholders.
The most recent analyst rating on (HK:0019) stock is a Hold with a HK$81.00 price target. To see the full list of analyst forecasts on Swire Pacific stock, see the HK:0019 Stock Forecast page.
More about Swire Pacific
Swire Pacific is a Hong Kong-based conglomerate with diversified interests including beverages, aviation, property and trading, and it operates as a major regional partner of The Coca-Cola Company in various Asian markets. Through its subsidiaries, the group manages bottling operations and related beverage businesses that are central to its long-term growth strategy in the region.
Average Trading Volume: 1,424,455
Technical Sentiment Signal: Buy
Current Market Cap: HK$102.7B
For a thorough assessment of 0019 stock, go to TipRanks’ Stock Analysis page.