LG Health's Haetae HTB Auction Attracts 5-6 Bidders; Coca-Cola Beverage Sale Seen as Unlikely Near-Term

According to investment banking sources on July 28, LG生活健康's beverage subsidiary Haetae HTB received preliminary bids from five to six potential acquirers on July 24, with each submitting letters of intent (LOI). Advisors on the sale include Samjong KPMG.

With the auction gaining traction, market speculation has resurfaced about a potential sale of Coca-Cola Beverage, LG生活健康's larger beverage unit. However, IB experts note near-term sale is unlikely due to Coca-Cola's bottling partnership structure. Coca-Cola Beverage, in which LG生활건강 holds 90% and a Coca-Cola affiliate holds 10%, generates revenue of 1.5965 trillion Korean won (2025) with an operating profit margin near 10%. Any buyer would need approval from Coca-Cola headquarters to continue the bottling business.