Coca-Cola to Buy SABMiller’s Stake in African Bottler
11 Oct 2016 --- Coca-Cola is to buy SABMiller’s stake in Coke's largest drinks bottler in Africa, following its purchase by Anheuser Busch (AB InBev). Coca-Cola Beverages Africa (CCBA) was set up in 2014 with Coke, SABMiller and South Africa-based Gutsche Family Investments owning stakes in the venture.
SABMiller owns a 54 percent stake in CCBA, which is said to be worth around $4bn.
Based in South Africa, CCBA has more than 30 bottling plants in sourthern and eastern Africa.
According to the Wall Street Journal, it distributes around 40 percent of Coke’s overall volume in Africa.
Coke had the rights to buy out SABMiller’s stake in light of a change of ownership at SABMiller.
Shareholders approved Anheuser Busch's (AB InBev's) $104bn acquisition of SABMiller last month, one of the biggest deals in corporate history.
In a statement, Coke said it will hammer out terms of the deal in the next few months and talk to potential new partners.