Swire Sells US Coke Ops To Parent

Jun 29, 2023

∙ Paid

Swire Pacific (A) (19 HK) has announced it is selling its US Coca-Cola ops to its parent, John Swire & Sons Limited (JSS), for HK$30.4bn (US$3.9bn). That's 40% of Swire's market cap - so a bigly transaction.
Upon completion of the sale, Swire will pay a special dividend in the aggregate amount of ~HK$11.7bn, equivalent to HK$8.120 per ‘A’ share and HK$1.624 per ‘B’ share.
As JSS holds 60.31% of the equity in Swire, JSS gets back ~HK$7bn or ~23.2% of the outlay for the US Coke ops.

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