Friday, August 15
(Atlanta, GA) -- Stock in Monster Beverage is up more than 20 percent after word that Coca-Cola is going to purchase a 16-percent stake in the company. Coca-Cola will have two directors on Monster's board. Under the agreement, Coca-Cola will make a net cash payment of just over two-billion dollars and transfer its worldwide energy business to Monster. Monster will issue its stock to Coca-Cola along with its non-energy businesses, including Peace Tea and Hansen's Natural Sodas and Juice Products. Coca-Cola stock jumped about one percent after news of the partnership.