US owner scraps auction after bids from private equity firms fail to meet its £2bn sale expectations, report says
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Coca-Cola has reportedly abandoned plans to sell its Costa Coffee chain after bids from private equity firms failed to meet its expectations.
The US soft drinks company halted discussions with remaining bidders in December, according to the Financial Times, ending a months-long auction process.
It first emerged in August that Coca-Cola was working with bankers on a review of Costa that could lead to the chain being sold off in a cut-price deal, of roughly half what it paid for the business.
