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Coca-Cola to buy 29 percent stake in Indonesian unit for $500 million - Coca-Cola Amatil

Reuters

SYDNEY (Reuters) - Coca-Cola Co (KO.N) will pay $500 million (312.20 million pounds) for a 29.4 percent stake in the struggling Indonesian production and distribution unit owned by Australia's Coca-Cola Amatil Ltd (CCL.AX), the Australian company said on Thursday.

The deal will support the expansion of the Indonesia unit with Coca-Cola Amatil retaining control, the company said in a statement.

Indonesia has been a trouble spot for Coca-Cola Amatil, with first-half earnings from South-East Asia's largest economy plummeting 83 percent to A$5.2 million, the company said in August.

(Reporting by Lincoln Feast; editing by Andrew Hay)