Coca-Cola Beverages Africa to List in Joburg and Amsterdam

David Indeje is Khusoko’s Digital Editor, covering East African markets.
Coca-Cola Co. Monday said it plans to sell part of its Coca-Cola Beverages Africa unit via an initial public offering.

(L-R) Xavier Selga MD CCBA, Joyce Macharia CEO Almasi, Nelly Wainaina Head of Marketing ECAF, Oliver Osoto Customer and commercial Director Coca Cola pose for a photo during the launch of the new range of the Without Sugar Portfolio at Meru National Polytechnic.

Coca-Cola Beverages Africa (CCBA) says it plans to list its shares in the Amsterdam and Johannesburg Stock Exchanges through an initial public offering in the next 18 months.

In a statement, the beverages company said the listing in line with Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation.

“The IPO will allow CCBA to operate as an independent, Africa-focused, South African-headquartered, managed and domiciled business,” the statement reads.

Coca-Cola will use one of the world’s largest independent financial advisory companies, Rothschild & Co., as the adviser for the initial public offer.

Bruno Pietracci, Africa & Middle East President for the Coca-Cola Company said, “The Coca-Cola Company sees Africa as a key growth market and views a separate listing of CCBA as an opportunity to deliver a broad, supportive, long-term investor base for the ongoing development of the business”.

Coca-Cola Beverages Africa is the 8th largest Coca-Cola bottling partner in the world by revenue and the largest on the continent. It accounts for 40 per cent of all Coca-Cola products sold in Africa by volume.

The group was formed in July 2016 after the successful combination of the Southern and East Africa bottling operations of the non-alcoholic ready-to-drink beverages businesses of The Coca-Cola Company, SABMiller plc and Gutsche Family Investments. CCBA shareholders are currently: The Coca-Cola Company 66.5% and Gutsche Family Investments 33.5%. CCBA’s African footprint now encompasses South Africa, Ghana, Ethiopia, Uganda, Kenya, Tanzania, Namibia, Mozambique, Comoros, Mayotte, Zambia, Botswana, Eswatini and Lesotho.

David Indeje is Khusoko’s Digital Editor, covering East African markets.

In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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