Coca-Cola and Huiyuan Juice deal ‘proceeding’

Coca-Cola’s potential acquisition of China’s Huiyuan Juice Group is proceeding and has reached the regulatory review and approval stage, it was revealed today.

The country’s ministry of commerce is believed to be able to provide an answer to whether the deal will go ahead by March.

According to Trading Markets, the government department held a meeting regarding the development recently following reports that some companies and Shunxin Agriculture had rejected the acquisition.

Last month saw Coca-Cola announce it had experienced volume performance in North America which was stronger than expected.

It also said "solid" sales had been achieved in Europe as well as efforts to control ongoing operation costs.

"We are encouraged by our progress in several key areas as we work to restore a foundation for growth at Coca-Cola Enterprises," explained chairman and chief executive officer of the group John F Brock.

He added that the 120-day business review undertaken by the organisation had helped to identify other opportunities for growth.