Warburg Pincus, the US private equity fund, has abandoned its investment in China Huiyuan Juice, becoming the first major shareholder to pull out of the company following the collapse of Coca-Cola’s $2.4bn takeover offer.

Warburg Pincus had declined to exercise an option to swap its convertible bonds for a 7 per cent equity stake in China’s leading juice maker, people familiar with the matter said.