Coca-Cola HBC Buys Majority of Stakes in Egypt's Bottling Company

After registering strong solid profits in the first half of 2021, Coca-Cola HBC decided to venture into the second-largest non-alcoholic ready-to-drink market in Africa by volume.

Also ReadCristiano Ronaldo Costs Coca-Cola $1billion, Paul Pogba Snubs Another Beer Sponsor

The FTSE 100-listed company agreed today to acquire a majority stake in Coca-Cola Bottling Company of Egypt for $427 million.

The Swiss-based soft drinks bottler has announced it will buy 94.7% of the Egyptian company from its major shareholders including affiliates of The Coca-Cola Co and MAC Beverages, Reuters reported.

^{Source: Google}

Also ReadCoca-Cola Responds After Cristiano Ronaldo Told Fans to Drink Water Instead

Shares of Coca-Cola HBC at the time of writing were trading up 27.00p (0.99%).