SABMiller intends contributing its Swaziland soft drink bottling business to Coca-Cola Beverages Africa.
In a joint statement issued by the Coca-Cola Company, SABMiller and Coca-Cola Sabco have agreed to combine the bottling operations of their non-alcoholic ready-to-drink beverages business in Southern and East Africa.
The new bottler, Coca-Cola Beverages Africa, will serve 12 high-growth countries, accounting for approximately 40 per cent of all Coca-Cola beverage volumes in Africa.
The intended contribution of Swaziland’s soft drink bottling business at Swaziland Beverages, would be the Phase II of the major transaction undertaken by SABMiller Plc, The Coca-Cola Company and Gutsche Family Investments (GFI) aimed at creating a group with E31.9 billion (US$2.9 billion) in revenue, across 12 fast-growing markets.
Completion of phase II is subject to a number of customary closing conditions, including regulatory approvals and requisite shareholder approvals, and is expected to complete 12-18 months after the completion of Phase I,” reads the statement in part.
Phil Gutsche will be Chairman of Coca-Cola Beverages Africa and Port Elizabeth, South Africa is the intended location for the company’s headquarters. The new company, which will have it’s headquarters in South Africa, will be 57 per cent owned by the brewery 31.7 per cent by GFI, which is the majority owner of South Africa-based bottler Coca-Cola Sabco and 11.3 per cent owned by The Coca-Cola Company, the groups said.
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