Report: Coca-Cola Company has abandoned the plan to sell Costa Coffee.

According to reports, Coca-Cola has abandoned its plans to sell Costa Coffee, citing that the offers from private equity buyers did not meet their expectations. This marks another setback for the company during its ownership of the struggling British coffee chain. Two sources revealed that the American soft drink giant terminated negotiations with remaining bidders in December last year, halting the months-long auction process. Companies in late-stage negotiations reportedly included TDR Capital, the parent company of Asda supermarket, and Bain Capital's special situations fund - which owns brands such as Gail's Bakery and Pizza Hut UK. A person familiar with Coca-Cola's thinking suggested that the company may restart the sale of Costa Coffee in the medium term.