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