如今时隔七年，兜兜转转，Costa Coffee再次被摆上出售台面，而TDR资本也又一次成为最有力的潜在 买家之一。这种历史轮回般的交易情节，为本次谈判增添了一层戏剧性的色彩。 不过，在这场出售案中，TDR资本并非唯一的参与者，竞购过程吸引了多方资本的目光，美国私募巨头 贝恩资本（Bain Capital）的特殊机会部门也参与了竞标。 日前，《金融时报》援引知情人士消息报道，美国软饮巨头可口可乐公司拟出售英国咖啡连锁品牌咖世 家（Costa Coffee）的交易面临破裂风险，该公司正与私募股权公司TDR资本展开最后谈判，试图挽救 此项交易。 报道称，TDR资本上周早些时候被选定为可口可乐的优先竞标方，但谈判因价格问题陷入僵局。对此， TDR资本拒绝置评，可口可乐也未立即回应。 另据知名金融科技平台TipRanks消息，知情人士透露，价格已成为此次交易的主要障碍。TDR资本的兴 趣主要集中在Costa Coffee的英国本土业务及国际业务，并不包含中国区业务。而可口可乐正考虑保留 Costa Coffee的少数股权，并可能调整股权相关条款。市场预计，可口可乐将在本周内决定是敲定交易 还是放弃出售计划。 资料显示 ...

Core Viewpoint - The sale of Costa Coffee by Coca-Cola is at risk of collapsing due to price negotiations with TDR Capital, the preferred bidder, which has led to a stalemate in discussions [1][2] Company Summary - Coca-Cola is in final negotiations with TDR Capital regarding the sale of Costa Coffee, which has faced challenges primarily related to pricing [1] - TDR Capital was selected as the preferred bidder but has not commented on the negotiations, and Coca-Cola has not responded immediately [1] - The valuation of Costa Coffee is estimated to range from £1 billion to £2 billion, with significant differences among bidders [3] - Costa Coffee reported revenues of £1.22 billion in 2023, a 9% increase year-on-year, but still below the £1.3 billion reported in 2018, and it incurred a loss of £9.6 million in 2023 [4] Industry Summary - The global coffee chain market is facing multiple challenges, including rising costs of coffee beans and inflation affecting labor and operational costs [4] - Costa Coffee is experiencing increased competition in the UK from established brands like Starbucks and new entrants like Gail's [4] - In China, Costa Coffee has struggled against local brands like Luckin Coffee, failing to meet its expansion targets and reducing its store count to approximately 328 [5] - Consumer habits are shifting towards more convenient and cost-effective purchasing models, which Costa Coffee is attempting to adapt to but is lagging behind [8]