Swire Pacific Limited (00019, 00087) disclosed an update concerning the disposal of a 30% minority interest in the Coca-Cola bottling operation in Vietnam. As previously announced in February 2024, Coca-Cola Indochina Pte. Ltd. (CCI)—an indirect wholly-owned subsidiary of Swire Pacific—had agreed to sell 30% of the charter capital of the Vietnam Subsidiary to ThaiNamthip Corporation Public Company Limited (TNT) through a transaction known as the Vietnam CTA. Following TNT’s reorganization plans, that Vietnam CTA was terminated on 27 February 2026.
On the same date, a share purchase agreement (CCI SPA) was signed between SCCL—the sole shareholder of CCI immediately prior to completion—and ThaiNamthip Holdings Limited (TNH). Under this new structure, TNH acquired 30% (260,020,890 shares) of the share capital of CCI, the sole shareholder of the Vietnam Subsidiary, for approximately US$221.10 million (about HK$1,724.60 million), subject to customary adjustments. Completion took place on the same date, resulting in TNT, through TNH, indirectly holding 30% of the Vietnam Subsidiary.
Each of CCI and the Vietnam Subsidiary becomes a non-wholly owned subsidiary of Swire Pacific. The termination of the Vietnam CTA represents a material variation of the original disposal terms, and this update is being made pursuant to Rule 14.36 of the Listing Rules. Meanwhile, the transaction under the CCI SPA does not constitute a notifiable or connected transaction for Swire Pacific under Chapters 14 and 14A of the Listing Rules.
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