Coca-Cola Co said it would exercise its right to buy Anheuser-Busch InBev’s stake in Africa’s biggest Coke drinks bottler, after the brewer’s takeover of SABMiller.
Coke, which formed Coca-Cola Beverages Africa (CCBA) along with SABMiller and the South African owners of bottler Coca-Cola Sabco in 2014, had retained the right to buy SABMiller’s stake in the event of a change of control at the brewer.
Coke will negotiate terms of the deal with AB InBev in the coming months and continue talks with potential partners to refranchize CCBA, the company said on Monday.
Coke owns 11.3 percent of CCBA, while SABMiller holds 57 percent. The Gutsche family that owns Coke Sabco owns the rest of the bottler, which has operations in 12 markets across Southern and East Africa.
Coke’s other bottling partners include Coca-Cola FEMSA in Mexico and Latin America, Coca-Cola HBC AG and Coca-Cola Enterprises in Europe.
Source: Business & Financial News, Breaking US & International News | Reuters
- Coca-Cola Buys AB InBev Out of Africa Unit for $3.2 Billion
- Coca-Cola & SABMiller strike deal to create Africa’s largest bottling operation
- World’s largest brewer Anheuser-Busch InBev approaches South Africa’s SABMiller for record industry acquisition
- SABMiller said to have rejected $100B offer from Anheuser-Busch InBev
- AB InBev to acquire South Africa’s SABMiller for $104B in largest beer industry takeover ever
- AB InBev agrees to concessions with South Africa over SABMiller deal
- Africa expansion drives SABMiller, AB InBev mega-merger
- Nampak Plans Glass Factories in Africa’s Most Populous Nations
- Cyril Ramaphosa Said to Swap Banks for Burgers as He Takes Office
- Is Nigeria’s 7-Up Bottling Company a Bargain?
- Africa: A continent of new consumers
- Johannesburg Exchange Boss Nicky Newton-King Braces for Competition
- M&A activity heats up in Africa as investors bet on growth
- Coca-Cola acquires 40% of leading Nigerian dairy and juice company Chi Limited
- Investors keep an eye on the big picture in Africa, in spite of short-term challenges
- How to succeed in selling to consumers in South Africa
- Africa’s most valuable company Naspers ups investment in South Africa’s largest e-commerce company Takealot
- SABMiller sees Africa expansion pay off as continent booms
- Krispy Kreme Doughnuts to Open in Nigeria
- Nakumatt and Shoprite are attracting interest from international investors for their fast-growing markets (Infographic)
- East African assets attract private equity interest
- Nigeria’s Potential Outweighs Risk: Siep Hiemstra, President, Heineken Middle East & Africa
- Duet launches $400M private equity fund focused on distressed Nigerian companies
- Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75M
- Monopoly Money: The successes and failures of South African billionaire Christoffel Wiese
- South Africa’s Shoprite shifts investment focus to the rest of Africa as profit slows
- How to navigate Africa’s retail distribution labyrinth: Nielsen (Infographic & Report)
- Heineken’s Ethiopia Plans Highlight Importance of African Market
- Retail Africa: Africa’s next retail giant?
- Looking back to move forward: Elsie Kanza, Senior Director & Head of Africa, World Economic Forum
- The Changing Face Of Business In Nigeria: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)
- Pizza Hut Enters Ethiopia in Latest Expansion Into Africa
- Why And How You Can Profit Investing In Africa’s 1.1 Billion Consumers
- In Africa’s oil capital, Africa’s richest man built an empire on sugar
- To make it big in Africa, a business must succeed in Nigeria, the continent’s largest market
- Africa’s informal retail: A market you can’t afford to ignore, says Ng’ang’a Wanjohi, CEO of Kenya’s Kaskazi Network
- How former Jumia MD is selling groceries online in Nigeria
- Fund manager sees continuing growth from rising African consumer markets juggernaut
- Orji Uzor Kalu: The Nigerian Millionaire Who Wants To Negotiate With Boko Haram
- Diageo Dissolves Heineken Venture to Go Solo in South Africa