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China Huiyuan surges 164 pct on Coca-Cola buy offer

HONG KONG
Tue Sep 2, 2008 10:06pm EDT

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HONG KONG (Reuters) - Shares in Chinese juice maker China Huiyuan Juice Group Ltd (1886.HK) jumped 164 percent on Wednesday after the Coca-Cola Company (KO.N) said it would buy Huiyuan in a $2.3 billion deal to expand its presence in China's fast-growing beverage industry.

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Huiyuan shares were set to open at HK$10.94, up HK$6.8 as trading resumed after being suspended since Monday.

The iconic U.S. company will pay HK$12.20 for each Huiyuan share -- nearly triple the stock's closing price of HK$4.14 on Friday.

($1=HK$7.807)

(Reporting by Alison Leung; editing by Jonathan Hopfner)
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