P&G, COCA-COLA SCALE BACK DEAL

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(Aug. 15, 2001) -- Procter & Gamble Co. said in an 8-K filing with the Securities and Exchange Commission today that it and Coca-Cola Co. are scaling back a proposed joint venture.

Instead, the two mega marketers will discuss a distribution deal by which Coca-Cola bottlers would distribute such P&G brands as Pringles and Sunny Delight.

In February, the two companies announced a more ambitious deal that would have combined P&G's snack and juice drink brands into a 50-50 joint venture that would also have included such Coca-Cola brands as Minute Maid and Hi-C. -- Jack Neff

Copyright August 2001, Crain Communications Inc.

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