Soft-drink maker Pokka Corp. said it will sell all of its equity holdings in a wholly owned U.S. subsidiary to Coca-Cola Co. in December.
Pokka said 1,000 outstanding shares of Pokka USA Inc., based in American Canyon, Calif., will be sold to the Atlanta-based U.S. soft drink giant for $53 million on Dec. 30, bringing in estimated capital gains of 3.7 billion yen on a group basis.
Most of the proceeds from the sale will be used to focus on domestic operations, Pokka said.
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