Thursday, December 22, 2016

Coca-Cola Buys bottling company of ABInbev

Coca-Cola agreed to pay more than $3 billion for AB InBev for control of the largest soft drink bottling company of Africa, informed both companies said Wednesday.
The merger with SABMiller in September, the Belgian-brazilian giant InBev AB was with 54.5% in Coca-Cola Beverages Africa (CCBA), and Coca-Cola announced in October that it would exercise its right of first refusal.
The CCBA operates in South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros Union.
Coca-Cola will pay $3.15 billion (3.03 billion euros) for the stake in the CCBA, formed as a joint venture between Coca-Cola and SABMiller in 2014, becoming the largest bottler of soft drinks from Africa, responsible for about 40% of sales of Coca-Cola in the continent.
Coca-Cola said it also agreed to buy bottling operations of AB InBev in Zambia, in Zimbabwe, in Botswana, Swaziland, Lesotho, in El Salvador and in Honduras. The value of this purchase was not revealed.
According to the Communique, the U.S. company only intends to keep these operations temporarily "until other partners can be refranqueados".
Coca-Cola said that some "highly qualified" candidates are being recruited to take over the territories "as soon as possible".
The acquisition of the participation of the CCBA is to be completed by the end of next year.
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