Business
Acquires Coca-Cola Bottling Company of Egypt
Acquires Coca-Cola Bottling Company of Egypt.
About this update from Coca-cola Hbc Ag
[{"type":"text","content":"\n \n \n \n RNS Number : 4384I\n Coca-Cola HBC AG\n 12 August 2021\n \n \n \n \n \n \n \n Coca-Cola HBC AG\n \n \n Acquires Coca-Cola Bottling Company of Egypt \n \n \n \n \n \n \n Zug, Switzerland, 12 August 2021. \n \n Coca-Cola HBC AG (\"Coca-Cola HBC\") announces today that, following publication of its financial results for the six months ended 2 July 2021, its wholly-owned subsidiary Coca-Cola HBC Holdings BV (\"CCH Holdings\") has reached agreement to acquire approximately 94.7% of Coca-Cola Bottling Company of Egypt S.A.E. (\"CCBCE\")\n from its major shareholders, a \n wholly-owned affiliate of The Coca-Cola Company (\"TCCC\") and MAC Beverages Limited (\"MBL\") and certain of its affiliated entities for an agreed combined purchase price of US$427 million, subject to certain adjustments \n (the \"Proposed Transactions\").\n \n \n \n \n \n Benefits and reasons for the Proposed Transactions \n \n \n · \n Access to the second largest Non-Alcoholic Ready To Drink market (\"NARTD\") in Africa by volume, building on existing scale - Nigeria and Egypt account for c. 25% of the continent's population\n \n \n · \n Significant opportunity to leverage Coca-Cola HBC's proven route-to-market capabilities and 70 years of experience operating in emerging markets to increase penetration of The Coca-Cola Company's brand portfolio and drive category leadership\n \n \n · \n Expand Coca-Cola HBC's exposure to high growth geographies\n \n \n · \n Low-single digit EPS accretion expected in the near term, with opportunity to create further value through progressively moving CCBCE's margins towards the Coca-Cola HBC group average over time\n \n \n \n \n \n \n Zoran Bogdanovic, CEO of Coca-Cola HBC\n \n , said: \n \n \n \"We are excited to welcome CCBCE to our group. We see great potential for this business to unlock considerable opportunities in the NARTD category in Egypt. With our best-in-class execution capabilities, commercial expertise and world leading approach to sustainability and communities, we believe there is a significant opportunity to create value for all stakeholders. We appreciate the trust placed in us by The Coca-Cola Company and MBL, and look forward to becoming part of the Coca-Cola system in Egypt.\"\n \n \n \n \n \n \n Abdul Galil Besher, Chairman of MAC Beverages Limited and CCB...