Coca-Cola Beverages Africa to List in Joburg and Amsterdam

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.