Swire Pacific Ltd. said it would buy a 49 percent stake in a Coca-Cola production and distribution unit in China from Xiamen Light Industry Group Corp. Ltd. for 419.2 million yuan (US$52.69 million).

The Hong Kong conglomerate said in a statement its stake in Swire Coca-Cola Beverages Xiamen Ltd. would be increased to 93.6 percent from 44.6 percent on completion of the deal, which is to be paid in cash.

Swire Coca-Cola Beverages, which is 51 percent held by Swire Beverages Ltd., produces and distributes Coca-Cola series beverages in China's Fujian Province.

Swire Beverages is 87.5 percent owned by Swire Pacific.

Source:佚名