Coca-Cola to Acquire SABMiller's Former Stake in Africa Soda Bottling
October 10 2016 - 6:30PM
Dow Jones News
By Mike Esterl and Tripp Mickle
Coca-Cola Co. said Monday that it would exercise a
change-of-control clause, allowing it to acquire SABMiller PLC's
former interest in the soft-drink company's largest African
bottling company.
The move comes after Anheuser-Busch InBev NV on Monday closed
its acquisition of SABMiller PLC to create a beer behemoth with a
large African footprint. As of late August, SABMiller had a 54%
stake in Coca-Cola Beverages Africa, which distributes about 40% of
Coke's volumes in the continent.
Atlanta-based Coke wants to keep AB InBev at arm's length amid
speculation the Belgian beer giant eventually could try to acquire
Coke. AB InBev also is a major bottler of nonalcoholic drinks in
Latin America for PepsiCo Inc., Coke's longtime rival.
Write to Mike Esterl at mike.esterl@wsj.com and Tripp Mickle at
Tripp.Mickle@wsj.com
(END) Dow Jones Newswires
October 10, 2016 18:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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