Tag Archives: South Africa Competition Tribunal

Coca-Cola reaches agreement with South Africa over CCBA

Coca-Cola said on Thursday that it had reached an agreement with the South African government on a package of conditions addressing public interest considerations in connection with the proposed acquisition of AB InBev’s 54.5% stake in Coca-Cola Beverages Africa (CCBA).

The soft drinks giant reaffirmed its commitment to honour all merger conditions agreed with South African regulators when CCBA opened for business in 2016. Coke also agreed to ensure that the majority shareholder of CCBA will honour all merger conditions agreed at the creation of the company.

South Africa’s Remgro to raise $727m to acquire SABMiller’s stake in Distell

South Africa’s Remgro, an investment group said on Tuesday it would raise R9.9bn ($727m) to consider deals, including a right to buy SABMiller’s stake in drinks company Distell Group.

The company said it would raise the funds through a rights offer and the sale of B shares, it said in a statement on Tuesday. Investors will get 10 shares for every 100 they own at a price of R192.50 per share ($14.15) under the terms of the rights issue, which represents a 21% discount on Tuesday’s closing price of R241.72 ($17.77).

South African regulator gives conditional approval to SABMiller, Coca-Cola deal

South Africa’s Competition Tribunal, said on Tuesday it has given its nod to the merger of SABMiller’s South African soft drinks business with Coca-Cola’s South African operation and that of Coca-Cola SABCO to create what would be known as Coca-Cola Beverages Africa, the continents biggest coke bottler with 40% of all Coke’s volumes sold in Africa.