Coca-Cola considers US$1bil IPO of Indian bottling unit, Bloomberg News reports

Coca-Cola is considering taking its Indian bottling unit public in a deal that may fetch $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter.

The company has met with bankers to discuss listing Hindustan Coca-Cola Beverages, the report said, adding that it would value the unit at $10 billion.

Coca-Cola did not immediately respond to a Reuters request for comment outside regular U.S. business hours. Hindustan Coca-Cola Beverages could not be reached for comment.

The beverage giant has been facing competition from Reliance’s consumer products brand Campa Cola.

India is seeing a flurry of global companies seeking to list their subsidiaries. Consumer appliance maker LG Electronics India eclipsed its South Korean parent in a blockbuster $13 billion trading debut this week.

Talks of a potential listing are in early stages and the company hasn’t hired bankers yet, Bloomberg News reported, adding that the deal would probably occur next year if it goes ahead. – Reuters