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

Published August 12th, 2021 - 11:00 GMT
Coca-Cola HBC Buys Majority of Stakes in Egypt's Bottling Company
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. (Shutterstock)
Highlights
The FTSE 100-listed company agreed today to acquire a majority stake in Coca-Cola Bottling Company of Egypt for $427 million.

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.

Coca-Cola HBC

Source: Google

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


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