Coca-Cola (KO) has ended talks to sell Costa Coffee after bids from potential private equity suitors fell below expectations, Sam Chambers, Ivan Levingston and Ashley Armstrong of The Financial Times report. According to two people familiar with the matter, Coca-Cola ended talks with remaining bidders, including Asda owner TDR Capital and Bain Capital’s special situations fund, for Costa in December. Coca-Cola had been seeking about GBP 2B after paying GBP 3.9B for the U.K. coffee chain in 2018.
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