Coca-Cola to spend $3.15bn on new African acquisition

Posted by News Express | 22 December 2016 | 1,871 times

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The world’s largest soft-drink maker, Coca-Cola, is to buy multinational beverage and brewing giant Anheuser-Busch InBev’s 54.5% stake in Coca-Cola Beverages Africa (CCBA), including the South African operation, for $3.15bn, AB InBev announced on Wednesday.
The deal includes CCBA’s operations in Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros.


In addition, the companies had reached an agreement for Coca-Cola to buy AB InBev’s interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and Honduras for an undisclosed amount, AB InBev said in a statement.


Coca-Cola planned to hold all the territories temporarily until they could be refranchised to other partners, the company said.


It said the transactions were subject to the relevant regulatory and minority approvals and were expected to close by the end of 2017.


•Text courtesy of Business Day SA.
 


Source: News Express

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