Tag Archives: The Coca-Cola Company

Health industry accused of sabotaging efforts to reduce sugar content in sweetened beverages

Advocates of sugar-tax on sweetened beverages such as Carbonated Soft Drinks (CSDs) in Nigeria say that health organisations as well as medical and public health institutions have been enabling the rise in new cases of diabetes and other non-communicable diseases (NCDs) in the country by accepting billions of naira in donations from soft drink manufacturers in the form of Social Responsibility donations.

Coca-Cola acquires AB InBev’s stake in CCBA

Soft drinks giant Coca-Cola announced on Wednesday it has agreed to buy SABMiller’s 54.5% stake in Coca-Cola Beverages Africa (CCBA) from AB InBev for $3.15bn.

Coca-Cola and AB InBev said in a joint statement that they had agreed to the transfer of AB InBev’s 54.5% stake in CCBA to The Coca-Cola Company (TCCC). The stake was formerly owned by SABMiller before the mega beer acquisition that saw SAB merge with AB InBev.

Coca-Cola announces leadership change; CEO Muhtar Kent to Step down next year

The Coca-Cola Company (TCCC) announced on Friday that Muhtar Kent, its Chief Executive Officer (CEO) will step down in May next year, and to be succeeded by James Quincey, the company’s current president and Chief Operating Officer (COO).

Kent who has been the CEO since 2008 will remain chairman.

Rumours of a potential deal between Anheuser-Busch InBev and Coca-Cola sends InBev’s shares lower

Anheuser-Busch InBev’s shares fell 1.85% on Monday after news broke that the brewer might have its eyes set on acquiring Coca-Cola.

The world’s largest brewer, which last month finalized the acquisition of  SABMiller, its closest rival in a $103bn deal might yet be seeking its next acquisition target, according to a report in London’s Sunday Telegraph. Carlos Brito, AB InBev’s CEO is said to be setting its sights on Coca-Cola, a company with a market capitalization of $176bn, which would provide a big bonus payday for AB InBev’s top managers.

Zimbabwe’s Delta Beverages ponders next move in Coca-Cola disengagement deal

Delta Beverages Limited, Zimbabwe’s largest brewer and Coke bottler is weighing its options on how to navigate an uncertain future after a likely asset separation deal from The Coca-Cola Company (“TCCC”) which could see it give up a third of its operating profits.

Coca-Cola Icecek weighs vying for SABMiller’s stake in Coca-Cola Beverages Africa

Coca-Cola Icecek (CCI), the fifth largest bottler of Coca-Cola products in the world has expressed interest in acquiring SABMiller’s stake in Coca-Cola Beverages Africa (CCBA).

In a statement released by the company on Monday, it said: “Coca-Cola Icecek A.S. (CCI) has decided to engage with investment banks to evaluate any potential alternatives in relation to The Coca-Cola Company (“TCCC”) announced intention to sell this stake to strategic partner. Any further developments on this will be separately announced going forward.

Coke to end bottling deal with Zimbabwe’s Delta Beverages

Atlanta-based Coca-Cola Company (TCCC) has given notice of its intent to terminate the bottler’s agreement it has with Delta Beverages Limited, Zimbabwe’s largest brewer.

Coke suffers third Quarter profit decline on foreign currency related headwinds

Atlanta-based Coca-Cola on Wednesday reported a 7% drop in revenue for the third quarter ending September 30, 2016 to $10.63bn from $11.4bn in the previous year, impacted by a foreign currency exchange headwind of 2% and headwinds from acquisitions, divestitures and structural items of 8%.

Coca-Cola Beverages Africa to have new partner by 2018, says Coke

Atlanta-based Coca-Cola said it hopes to have a new bottling partner to replace SABMiller in Coca-Cola Beverages Africa (CCBA) by 2018.

Coke announced last week that it would exercise its change-of-ownership rights to acquire SABMiller’s 57% stake in CCBA from AB InBev and find new suitable partners. The soft drinks giant said it expects about four months of negotiation with AB InBev before acquiring SABMiller’s stake and another 12 months to obtain regulatory approval from the South African authorities.

Coke Q2 profit rise 11% on lower revenue, amid currency headwinds

Coca-Cola said on Wednesday that second quarter net income rose 11% to$3.45bn, from $3.11bn earned in the same period in 2015.

The Atlanta-based soft drinks maker said that net income included non-cash gains from the deconsolidation of its German bottling operations, partially offset by charges from restructuring and re-franchising of its North American territories.