25th Jan 2022 13:41
Coca-Cola Hellenic Bottling Company AG - Switzerland-based strategic bottling partner of Coca-Cola Co - Announces its wholly-owned subsidiary Coca-Cola HBC Holdings BV has completed acquisition of around 42% of the shares in Coca-Cola Bottling Co of Egypt SAE.
It was acquired from a wholly-owned affiliate of The Coca Cola Company for a cash consideration of around USD123 million, and brings CCH Holdings' total ownership in CCBCE to 95%.
CCHBC previously said the acquisition was motivated by Egypt being the second-largest non-alcoholic ready-to-drink market in Africa by volume. It can also now build on existing scale in Africa, and gain exposure to high growth geographies.
Current stock price: 2,500.00 pence, up 0.4% on Tuesday
12-month change: up 12%
By Elizabeth Winter; [email protected]
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