PepsiCo investing 144M yuan to raise its stake in Chinese bottling joint venture to 90% from 75%, partner Shenzhen Shenbao Industrial says
September 8, 2011
– PepsiCo. Inc. is raising its stake in a Chinese bottling joint venture to 90%, its partner Shenzhen Shenbao Industrial Co. said in a statement to Shenzhen’s stock exchange, Bloomberg reported Sept. 7.
PepsiCo will invest 144 million yuan to increase its current 75% share in the venture based in the southern Chinese city of Shenzen, according to the statement.
The venture saw a net loss in the first half of the year of 1.16 million yuan after it lost 67.4 million yuan in 2010, according to the statement.
The primary source of this article is Bloomberg, New York, New York, on Sept. 7, 2011.