Coca-Cola set to embrace eastern promises with takeover deal in China

COCA-COLA is set to expand in China after offering £1.35 billion to buy China Huiyan Juice Group, the country's biggest juice-maker.

If the deal goes through, it would be the biggest ever takeover by a foreign company in China.

The American drinks giant hopes to expand and diversify its portfolio at a time when the carbonated drinks market is slowing.

It has secured commitments for 66 per cent of Huiyan's shares but still needs the approval of the Chinese authorities.