Summary Box: Coca-Cola buys stake in Aujan

AP News
Posted: Dec 14, 2011 2:14 PM
Summary Box: Coca-Cola buys stake in Aujan

BIG PURCHASE: The Coca-Cola Co. is buying roughly half of Saudi Arabia's Aujan Industries for $980 million, pairing the U.S. soda giant with one of the Middle East's top independent beverage companies.

WIDE VARIETY: Aujan sells the popular Rani line of fruit drinks and the nonalcoholic malt beverage Barbican throughout the Middle East. It also holds the regional license for Vimto, a British spiced fruit drink that is popular with many Muslims celebrating the holy month of Ramadan.

MAJOR INVESTMENT: The companies say it is the largest investment yet by a multinational firm in the region's consumer goods industry.