Vending

Coca-Cola considers offloading Africa bottling business

Image courtesy of iStock.

March 30, 2021

The Coca-Cola Co. is considering a sale or initial public offering for its bottling business in Africa, people familiar with the matter told Bloomberg News.

The company holds 66.5% of Coca-Cola Beverages Africa and is exploring its exit options. The IPO or sale could value the business around $6 billion, according to sources.

Coca-Cola first tried to offload its stake in 2017 and attracted interest from Coca-Cola HBC AG and Heineken NV, Bloomberg reported at the time. It acquired the majority interest less than a year prior, paying $3.15 billion, buying Anheuser-Busch InBev out of the bottling joint venture.