San Miguel joint venture buys majority stake in Cosmos

Top Philippine food and beverage firm San Miguel Corp says its joint venture with the Coca Cola company has bought a majority stake in Cosmos Bottling Corp.
This gives Coke a near monopoly of the cou…

Top Philippine food and beverage firm San Miguel Corp says its joint venture with the Coca Cola company has bought a majority stake in Cosmos Bottling Corp. This gives Coke a near monopoly of the country“s soft drink market. The deal is the biggest corporate takeover in the Philippines this year. The venture would seal Coke“s dominance in the Philippine beverage industry, cornering about 90% of the market. Cosmos is the country“s second largest soft drink producer with up to 25% market share, while Coke currently holds up to 65%.