Coca-Cola Company has agreed to purchase Belgium-based Anheuser-Busch InBev’s (AB InBev) 54.5% share in Coca-Cola Beverages Africa (CCBA) for $3.15bn.
CCBA currently has operations in South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros.
As part of the deal, Coca-Cola will continue to own CCBA until it can be refranchised to other partners.
Coca-Cola further aims to account for the acquired stakes as a discontinued operation for reporting purposes.
Subject to relevant regulatory and minority approvals, the acquisition is scheduled to be completed by the end of next year.
Coca-Cola Company chairman and CEO Muhtar Kent said: “We will move forward with our long-term strategic plan in these important growth markets.
“We are continuing negotiations with a number of parties who are highly qualified and interested in these bottling territories and look forward to refranchising these territories as soon as practical following regulatory approval.”
The company currently provides more than 500 sparkling and still brands, as well as more than 3,800 drinks.
Image: Coca-Cola Company currently provides more than 500 sparkling and still brands. Photo: courtesy of The Coca-Cola Company.