Coca-Cola engages in final discussions to attempt to save the sale of Costa Coffee, according to reports from the FT

The Financial Times reported on Saturday, citing sources familiar with the situation, that Coca-Cola’s proposed sale of Costa Coffee is in danger of failing. The corporation is holding last-ditch negotiations with private equity firm TDR Capital this weekend in an attempt to rescue the transaction.

According to the article, TDR was chosen as Coca-Cola’s preferred bidder earlier this week, but negotiations have stalled over the price. The proposal also calls for the soft drink giant to keep a minority share in the British coffee business.

Reuters was unable to confirm the report right away. TDR chose not to respond. A request for comment was not immediately answered by Coca-Cola.

A source familiar with the situation told Reuters in August that Coca-Cola was collaborating with investment bank Lazard to examine possibilities, including a possible sale of Costa. Additionally, Lazard did not reply to a request for comment.

Coca-Cola purchased Costa from Britain’s Whitbread Plc in 2018 for an enterprise value of $5.1 billion.