(Reuters) - Hong Kong conglomerate Swire Pacific Ltd <0019.HK> is in talks to buy Coca-Cola Co's <KO.N> bottling assets in China from Cofco Corp's [CNCOF.UL] China Foods Ltd <0506.HK> unit, Bloomberg reported.

A potential deal could value the business at about $1 billion and the companies could announce a deal as soon as this week, Bloomberg said, citing people familiar with the matter. http://bloom.bg/2fz2VPL

China Foods said in August it was considering a potential disposal of its stakes in companies engaging in Coca-Cola bottling operations by the way of a public sale.

Swire Beverages is one of the largest soft drink bottlers for Coca-Cola Co in the world, and works closely with the U.S. firm on brand development and marketing.

Swire Pacific, China Foods and Coca-Cola China were not immediately available for comment.

(Reporting by Gaurika Juneja in Bengaluru; Editing by Gopakumar Warrier)