Coca-Cola: to maintain majority stake in African bottler

(CercleFinance.com) - Coca-Cola said on Monday that it will maintain its majority stake in Coca-Cola Beverages Africa "for the foreseeable future," after the US soft drinks giant previously announced its intention to refranchise the largest bottler of Coca-Cola beverages in Africa.


While CCBA has been accounted for as a discontinued operation since 2017, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations from the second quarter, the company said.

"Coca-Cola Beverages Africa is a very important part of the Coca-Cola system, and we see great opportunities to create even more value," said Coca-Cola Chief Operating Officer Brian Smith.

CCBA was formed in 2016 through the combination of the African non-alcoholic ready-to-drink bottling interests of SABMiller, Coca-Cola and Gutsche.

AB InBev later acquired SABMiller and transferred its 54.5% equity stake in CCBA to Coca-Cola, making the US company its controlling shareowner since 2017.

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