US soft drinks company Coca-Cola's proposed sale of Costa Coffee is at risk of collapsing, with the company holding last-ditch talks this weekend with private equity firm TDR Capital in an effort to salvage the deal, the Financial Times reported over the weekend, citing people familiar with the matter.
TDR was selected as Coca-Cola's preferred bidder earlier this week, but talks have stumbled over the price, the report said, adding that the deal includes the soft drinks giant retaining a minority stake in the British coffee chain.
In August, Coca-Cola was said to be working with investment bank Lazard to review options, including a potential sale, of Costa, a source familiar with the matter told Reuters.
In 2018, Britain's Whitbread sold Costa to Coca-Cola for an enterprise value of $5.1 billion.
