Coca-Cola African bottling subsidiary plans IPO
The Coca-Cola Company and its African bottling subsidiary, Coca-Cola Beverages Africa, have announced plans to list the African bottler in Amsterdam and Johannesburg in the next 18 months.
The Coca-Cola Company, which is already publicly listed on the New York Stock Exchange, plans to list subsidiary Coca-Cola Beverages Africa (CCBA), one of the largest Coca-Cola bottling companies in South Africa, selling its shares in the company in the process.
CCBA was formed in 2016 via a merger between the bottling operations of Coca-Cola and beverage company SABMiller, which itself merged into the world’s largest brewer, AB InBev, in 2016.
Coca-Cola intends to dispose of its entire shareholding in CCBA via the planned initial public offering (IPO) of CCBA’s stock, after which CCBA will become a standalone company.
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