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.”
CCBA which was originally formed in November 2014 commenced business on 4th July, after passing through regulatory approval in South Africa. It was a joint-venture created by SABMiller’s South African non-alcoholic beverage business, with Coca-Cola and South African-based Coca-Cola SABCO.
Since then, SABMiller has been acquired by AB InBev. TCCC announced in October it would exercise its change-of-ownership clause to buy back SABMiller’s stake from AB InBev and sell to one or more of its bottling partners.
Other Coke bottling partners that have expressed interest in the stake includes Coca-Cola HBC. Analysts have also mentioned Coca-Cola European Partners (CCEP), Equatorial Coca-Cola, and Coca-Cola FEMSA. The stake is said to be valued at about $4bn.
Istanbul-based Coca-Cola Icecek (CCI) operates in 10 countries in Western and Central Asia – Turkey, Pakistan, Kazakhstan, Azerbaijan, Krygyzstan, Turkmenistan, Jordan, Iraq, Syria and Tajikistan. The company employs more than 10,000 people and has 25 bottling plants spread across these countries, offering a wide range of beverages that includes Coca-Cola brands, juices, waters, sports and energy drinks, teas and iced teas.