LG H&H announced that it has been selected as the priority negotiating partner for the sale of Coca-Cola Bottling and began exclusive negotiations with Coca-Cola Amatil (CCA).

LG H&H and CCA have signed an MOU, and the final terms of the deal will be specified in the sale agreement.

The final price of the deal is expected to be around 400 billion won. Excluding borrowings, a net investment of about 280 billion won is expected.

Both sides are working to expedite the negotiation process. If they receive the approval of the government and the board of both companies, the deal is likely to be finalized before the end of September 2007.