ABN - The world’s largest beer maker, Anheuser-Busch InBev (AB InBev) has sold a 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) to the American soft drink giant.
CCBA have operations in 10 countries across the continent, including South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique and Ghana.
The two companies have also reached an agreement for Coca-Cola to take over bottling rights in Zambia, Zimbabwe, Botswana, Swaziland and Lesotho.
The Belgian brewing company has now recouped US$27 billion from divestments, following its takeover of the second largest beer company in the world, SABMiller.
Muhtar Kent, chairman and CEO of the Coca-Cola company said: “We are pleased to have reached an agreement quickly that is in everyone’s best interests. We will move forward with our long-term strategic plan in these important growth markets.”
The takeover is expected to be formally completed in the next year.