▲ Up
 
00:15 26-04-2015
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Coca-Cola to buy 16.7 percent stake in Monster Beverage

Bishkek (AKIpress) - Coca-Cola said Thursday it is making a cash payment of $2.15 billion for a 16.7 percent stake in Monster Beverage Corp as the company seeks to expand into faster-growing categories like energy drinks, Reuters reported.

Under the agreement, Coke will have two directors on Monster's board. Coke will transfer ownership of its worldwide energy business including NOS, Full Throttle and Burn, to Monster. Monster will issue Coke shares of common stock, and transfer its non-energy business, which includes Hansen's Natural Sodas and Peace Tea, to Coke. Coke will become Monster's preferred distribution partner globally, while Monster will become Coke's exclusive energy drinks partner.

For Coke, the transaction represents an opportunity to increase its footprint in a faster growing category than soda. Coke said last month that its quarterly revenue in North America its biggest market was flat, partly driven by a decline in diet coke sales.

In turn, Monster will gain access to Coke's extensive global distribution system. The companies will amend their current distribution agreement in the U.S. and Canada by expanding into additional territories.

Coca-Cola shares rose 1.2 percent in after-hours trading, while Monster surged 22 percent.


Twitterfacebookprint
17:20 15.08.2014
LATEST NEWS
20:00 Victory Parade in Bishkek to be held on May 9 - president's decree16:00 Afghanistan to receive $45mln transit revenues from CASA-1000 project12:21 Minister, Turkish company discuss attraction of investments in healthcare of Kyrgyzstan12:02 CASA-1000 countries sign general agreement, power purchase agreement between economic entities11:40 Atambayev dismisses several senior judges in district courts11:27 Government denounces agreement with Russia on principles of levying indirect taxes in mutual trade11:06 Hajj to cost Kyrgyzstanis $2,250 in 201510:55 Kyrgyzstan, Germany discuss ways for further cooperation development10:36 Berlin hosts event devoted to life and works of Chingiz Aitmatov10:26 Deputy Education Minister appointed17:47 Tajik delegation studies promotion of human rights in prisons of Kyrgyzstan17:41 Foreign Minister: Western sanctions against Russia cannot affect Kyrgyzstan17:11 Kyrgyzstan to participate in Moscow exposure dedicated to Victory in Great Patriotic War16:51 Fourteen migrants killed in Macedonia, hit by train in canyon16:37 Nazarbayev asks Kazakhstanis to show up at polls on Sunday vote16:34 Education Festival takes place in Bishkek16:19 State Customs Service, U.S. Justice Department sign memo of cooperation on fight against drug trafficking16:06 National boxing team to perform at international tournament in Atyrau15:53 Checkpoint of Karkyra-avtodorozhny to resume work on May 115:49 China ratifies protocol to nuclear-weapon-free treaty in Central Asia
Astana
+15° C
Ashgabat
+20° C
Bishkek
+24° C
Dushanbe
+12° C
Tashkent
+14° C
exchange rates
 
66.50
61.10
9.86
1.22
201.89
185.80
30.00
3.67
6.75
6.22
1.00
0.13
2642.45
2484.15
400.29
41.38
3.80
3.50
0.57
0.07

© AKIpress News Agency - 2001-2015. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to www.akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75