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Investing.com -- Apollo Global Management has held early-stage discussions with advisers of Coca-Cola regarding a potential acquisition of Costa, according to a Sky News report citing people familiar with the matter.
The private equity firm has engaged in preliminary conversations about the possible purchase of the coffee chain, which Coca-Cola currently owns. However, indicative bids for Costa are not expected for several weeks, the report said.
The report also noted that Apollo might ultimately decide against pursuing a formal offer for the coffee business.
KKR, another private equity firm, has also reportedly spoken with Lazard, which is serving as Coca-Cola’s adviser in the potential sale process. However, KKR is unlikely to submit a firm bid for Costa, according to the sources.
Coca-Cola is currently exploring options for divesting the Costa business, though the process remains in its early stages.
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