(Reuters) -Hong Kong-based conglomerate Swire Pacific Ltd said on Monday it would buy the packaging and distribution operations of Coca-Cola in Vietnam and Cambodia, marking its expansion into the southeast Asian beverages market.
Swire Pacific will pay $1.02 billion in cash for Coc a-Cola Indochina, which packages and distributes the beverage in the two southeast Asian countries.
The firm is buying Coca-Cola Indochina through its Swire Beverages and Swire Coca-Cola units, from Coca-Cola (Japan), which is ultimately owned by Coca-Cola Co.
Swire Coca-Cola bottles the beverage for markets in Hong Kong and Taiwan, and parts of China and United States.
(Reporting by Harshita Swaminathan; Editing by Vinay Dwivedi and Rashmi Aich)
