China to Review Coke Offer for Huiyuan - TheStreet

China said it plans to review

Coca-Cola's

(KO) - Get Report

offer buy China Huiyuan Juice Group, a Hong Kong-listed company, in a $2.4 billion deal that would expand Coke's reach in the world's most populated nation.

A spokesman for China's Commerce Ministry was quoted by the government's Xinhua News Agency as saying China promised to review the offer as soon as Coca-Cola submits an application, the

Associated Press

reported. Coca-Cola hasn't said when it will ask China for approval.

The offer will be reviewed "based on market economy principles and the law -- opposing monopoly, but supporting regular market operation," Xinhua said, citing ministry spokesman Yao Shenhong, the AP reported.

Atlanta-based Coca-Cola has been operating a business in China since 1979. The company sells its namesake brand, Sprite, Fanta and other drinks, including Guo Li Chen and Yuan Ye, in China.

This article was written by a staff member of TheStreet.com.