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.”
Editor's Picks
5G Technology: The Future of Communication
5G Technology: The Future of Communication Background about 5G technologies Since 5G technology is gradually entering our daily lives and the phrase is used more frequently, we deemed it necessary to explain what it truly is to you. The beginning of 1G in 1979 The 1G, or first “Generation,” mobile network was the first... Read more
The Top 10 Business Books Of 2023: Reviews And Recommendations…
THE TOP 10 BUSINESS BOOKS OF 2023: REVIEWS AND RECOMMENDATIONS FOR ENTREPRENEURS Entrepreneurial success is all about staying informed and constantly learning. So stay ahead of the curve with our list of the top 10 business books of 2023, packed with insights, strategies, and success stories to take your business to the next level. ... Read more
The Benefits Of Mindfulness In Business: How To Cultivate A…
THE BENEFITS OF MINDFULNESS IN BUSINESS: HOW TO CULTIVATE A CALM AND FOCUSED MINDSET Unlocking the Power of the Mind: The Surprising Benefits of Mindfulness in Business” – Discover how cultivating a calm and focused mindset through mindfulness can revolutionize your professional life. KEY TAKEAWAYS Mindfulness assists individuals in being calm and focused, leading to... Read more
People Profiles
UK's King Charles urges compassion and care for the environment…
UK’s King Charles urges compassion and care for the environment in conflict. Utilizing his Christmas Day address to emphasize the significance of kindness, compassion, and care for the environment, King Charles of the United Kingdom issued a call to action on Monday, urging everyone to assist those less fortunate amid economic struggle and worldwide strife.... Read more
In Christmas Day message, pope decries Gaza's 'appalling harvest' of…
In a Christmas Day message, the pope decries Gaza’s ‘appalling harvest’ of civilian deaths. During his Christmas message, which was delivered on Monday, Pope Francis stated that children who are dying as a result of wars, like those that are taking place in Gaza, are the “little Jesuses of today.” He also stated that Israeli... Read more
An ex-FBI official is to be sentenced in the US…
An ex-FBI official is to be sentenced in the US over work for Russia’s Deripaska. On Thursday, a former FBI officer is scheduled to be sentenced for his involvement in working for Oleg Deripaska, a Russian businessman subject to sanctions imposed by the United States government. Prosecutors have referred to Deripaska as President Vladimir Putin’s... Read more
A Ukrainian teen returns to Ukraine after being taken to…
A Ukrainian teen returns to Ukraine after being taken to Russia from occupied Mariupol. A teenage Ukrainian who had been deported to Russia during the war from the battle-torn city of Mariupol and had been barred from leaving the nation earlier this year returned home. This month, Bohdan Yermokhin, who turned eighteen on Sunday, made... Read more
You May Also Like
Business
Jack Ma Praises Alibaba’s Transformation: Jack Ma, founder of Alibaba, has made two big public statements to staff in the last year, the most...
Business
Boeing hit after new whistleblower: A former employee of Boeing has come out with allegations of safety issues with the 787 and 777 aircraft,...
Business
World of Warcraft to return to China: After a 14-year break due to the end of its cooperation with game creator Activision Blizzard, Chinese...
Business
HSBC Sells Off Argentine Business at $1 Billion: Global banking behemoth HSBC has announced the sale of its Argentina business, signaling a departure from...
Comment Template