Until Anheuser-Busch InBev can hire a new owner, Coca-Cola has purchased majority shares for $3.15 billion in their Africa bottling company. Back in October Coke said that it would purchase stake that had been owned by SABMiller who took over AB InBev.
Both Coke and AB InBev commented in a joint statement that they are both in complete agreement of the transfer of almost 54 percent stake in one of the largest soft drink bottler throughout countries like Kenya, Uganda, and Tanzania, Coca-Cola Beverages Africa (CCBA).
Coke also announced it’s future expansion to other African territories like Botswana and Zambia that aren’t part of CCBA yet. It is no surprise that Coke has taken a deeper interest in Africa due to the growth of Africa’s middle class.
It isn’t quite clear as to whether AB InBev, a beer bottler, will decide to turn to soft drinks, but if it does that could give Coke a big boost in market value. Even though AB InBev is a big bottling company for Pepsi in Latin America, it has yet to expand to Africa. Business in Africa can pose a challenge due to the countries lack of infrastructure.
Coke has stopped all its operations until it can sort things out and begin re-franchising. Muhtar Kent, Coke Chief Executive, said that the company is “continuing negotiations with a number of parties who are highly qualified and interested.”
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