Coca-Cola sells Vietnam and Cambodia bottling business

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Swire Beverages Holdings, a subsidiary of Hong Kong-listed British conglomerate Swire Pacific, has acquired the Coca-Cola bottling operations in Vietnam and Cambodia owned by Coca-Cola (Japan) for USD1 billion. Slaughter and May advised Swire, while Rajah & Tann advised the seller.

Slaughter and May’s Hong Kong team was led by corporate partner Lisa Chung with the support of competition partner Natalie Yeung. Associates Stephanie Pun, Jason Hui, Jonathan Hsu, and Adrien Yeung also helped with the transaction.

In Vietnam and Cambodia, Vu Thi Que, the founding partner and chairwoman of Rajah & Tann LCT Lawyers in Ho Chi Minh City, and Heng Chhay, managing partner of R&T Sok & Heng in Phnom Penh, jointly advised the sellers. Both law firms are part of Rajah & Tann’s Asia network.

Swire already bottles the carbonated drink in Hong Kong, Taiwan, parts of mainland China and the US. The latest expansion marked its entry into Southeast Asia’s beverage sector, with three bottling facilities in Vietnam and one in Cambodia.