(Corrects Coca Cola Co Reuters Instrument Code in paragraph
BRUSSELS Dec 21 Anheuser-Busch InBev
has agreed to sell its majority stake in Africa's largest Coke
bottler to the Coca Cola Company for $3.15 billion, the
final planned divestment following its purchase of rival brewer
The world's largest beer maker and Coca Cola said in a joint
statement on Wednesday that they had agreed the transfer of AB
InBev's 54.5 percent stake in Coca-Cola Beverages (CCBA).
CCBA has operations in South Africa, Namibia, Kenya, Uganda,
Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros.
The companies have also reached an agreement in principle
for Coca Cola to acquire AB InBev's interest in bottling
operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El
Salvador and Honduras for an undisclosed amount.
The transactions, subject to relevant regulatory and
minority approvals, are expected to close by the end of 2017.
Coca Cola said it planned to hold all operations temporarily
until they can be refranchised to other partners. Its existing
bottling partners include Coca-Cola European Partners and
AB InBev has now raised some $27 billion from divestments of
SABMiller's European, U.S. and Chinese interests, recouping more
than a quarter of the 79 billion pounds ($97.7 billion) it paid
for the world's second largest brewer.
Coca-Cola Co said in October it would exercise its right to
buy AB InBev's stake in Africa's CCBA after the brewer's
takeover of SABMiller. AB InBev is a major bottler of Coke rival
Pepsi in Latin America.
Coke, which formed CCBA along with SABMiller and the South
African owners of bottler Coca-Cola Sabco in 2014, had retained
the right to buy SABMiller's stake in the event of a change of
control at the brewer.
($1 = 0.8083 pounds)
(Reporting by Philip Blenkinsop; editing by David Clarke)