Coca-Cola gears up for R149bn Africa bottling IPO

Coca-Cola Co is gearing up for a potential initial public offering of its African bottling business as soon as next year after previously putting the plans on hold, people with knowledge of the matter said. The drinks company is considering a dual listing for Coca-Cola Beverages Africa in Johannesburg and Amsterdam, according to the people. It may seek a valuation of more than $8 billion for the business, the people said, asking not to be identified because the information is private.

Coca-Cola Beverages Africa is the eighth largest Coca-Cola bottling partner worldwide by revenue and the biggest on the continent, accounting for about 40% of all Coca-Cola volumes sold in Africa. The unit now operates in about 15 African countries, including Kenya, Ethiopia, Namibia and Tanzania, employing more than 18 000 people, according to its website. © 2024 Bloomberg

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