The Coca-Cola Company and Gutsche Family Investments Agree to Sell Controlling Interest in Coca-Cola Beverages Africa to Coca-Cola HBC AG
The Coca-Cola Company and GutscheFamily Investments have agreed to sell a 75% controlling interest in Coca-Cola Beverages Africa Pty. Ltd. to Coca-Cola HBC AG, the companies announced today.
CCBA is the largest Coca-Cola bottler in Africa. It operates in 14 countries on the continent and accounts for about 40% of all Coca-Cola product volume sold across Africa. Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world, with operations in 29 countries across Europe and Africa, including Nigeria and Egypt.
Coca-Cola will sell 41.52% out of its 66.52% stake in CCBA to Coca-Cola HBC, and Coca-Cola HBC is acquiring 33.48% of CCBA that is held by GFI. In total, the transaction values 100% of CCBA at an equity value of US$3.4 billion.
The transactions are targeted to close by t...
