Bidders have agreed to join forces to buy the Sea Island Co. for $212.4 million in auction to settle the Georgia resort operator's bankruptcy case.
Sea Island spokesman Mike Geczi said Monday evening that the deal was reached after eight hours of negotitions.
Coca-Cola has completed its $3.4 billion buyout of the North American operations of its largest bottler.
The world's largest soft drink maker said Sunday it has closed the deal for the domestic unit of Coca-Cola Enterprises.
Imperial Sugar officials want Chatham County taxpayers to give the company an almost $3 million tax break for rebuilding parts of the sugar refinery that exploded two years ago.
Fourteen people died in the blast.