Coca-Cola has entered into an agreement to divest its bottling assets in China for CNY5.87 billion, which is about USD852 million.
China is the third largest market of Coca-Cola by sales, and the company is increasing its exposure with its joint venture partner.
Coca-Cola China announced plans to acquire the entire stake in cash of Xiamen Culiangwang Beverage Technology Co Ltd, a Chinese plant-based protein drinks maker.
With an estimated investment of CNY620 million, Coca-Cola has begun building its new plant in the Heilongjiang province city of Harbin.
Coca-Cola is expanding in China with more bottling plants.
David Brooks, president for Coca-Cola Greater China and South Korea, has become chairman of Greater China and South Korea.