Coca-Cola said Monday it plans to buy out Anheuser-Busch InBev’s stake in Coca-Cola Beverages Africa, which distributes about 40 percent of Coke beverages on the continent.
Atlanta-based Coke, already a part owner of the African distributor, said it will exercise a change-of-control clause triggered by Anheuser-Busch InBev’s merger with SABMiller, which reportedly held a 54 percent stake in the Johannesburg company.
“The company has chosen to exercise its right to acquire ABI’s stake in CCBA because it intends to implement its long-term strategic plan in these markets with other partners,” Coke said in a statement.
“While the company respects ABI’s capabilities, it has a number of existing partners who are highly qualified and interested in these bottling territories.”
The Wall Street Journal reported that Coke wants to keep the enlarged Anheuser-Busch InBev at arms length amid speculation the Belgian beer giant might eventually try to acquire Coke.
Coke said it will negotiate terms of the purchase in the next few months.
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