As per reports, Coca-Cola Co. (KO) is seeking a value of 7 billion euros ($8.1 billion) for its Coca-Cola Beverages Africa, expected to list next year. Bank of America Corp., Morgan Stanley, and Standard Bank Group Ltd. are being enlisted to run the initial public offering. As per sources, the final timing and size of the IPO will depend on investor appetite and market conditions, according to the reports.
Coca-Cola holds 66.5% of Coca-Cola Beverages Africa, having paid $3.15 billion in 2016 to buy Anheuser-Busch InBev out of the African bottling joint venture. Coca-Cola Beverages Africa operates in 14 territories on the continent and accounts for about 40% of the Atlanta-based company’s drinks sold there.
Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere. To learn more about The Coca-Cola Company (KO) and to continue to track its progress please visit the Vista Partners Coca-Cola Company Coverage Page.