As Soda Demand Fizzles, Coca-Cola Adjusts China Strategy

As memories of a "golden decade" of soft drink sales fade in China, global beverage kingpin Coca-Cola Co. is tasting the future by transferring its mainland bottling business to long-time franchisees.

Coca-Cola's pending bottling divestment, which has been valued by analysts at about $1 billion, is one of at least three recently announced deals reflecting a changing landscape for the beverage business in the world's second-largest economy.