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South Africa’s Competition Tribunal has conditionally approved Coca-Cola HBC’s move to buy majority control of Coca-Cola Beverages Africa. <\/p>\n
In a statement, the Tribunal said it had cleared the transaction \u2013 announced last October \u2013 but “subject to conditions aimed at addressing various public interest considerations”. <\/p>\n
The Tribunal said it had heard submissions from the companies and a trade union representing CCBA staff. <\/p>\n
Asked for further detail on the conditions, a spokesperson for the Tribunal said: “The Tribunal Panel is in the process of finalising the merger parties’ confidentiality claims and a copy of the Tribunal order and conditions will be made available on the Tribunal’s website as soon as the process has been finalised.” <\/p>\n
Just Drinks<\/em> has approached Coca-Cola HBC for comment. <\/p>\n Coca-Cola HBC struck a deal to buy a combined 75% of Coca-Cola Beverages Africa (CCBA) from The Coca-Cola Company and Gutsche Family Investments for $2.6bn. <\/p>\n UK-listed Coca-Cola HBC has operations in Egypt and Nigeria and the deal will see the company enter 14 more markets in Africa, including Ethiopia, Kenya and South Africa. <\/p>\n Combined, the companies would have generated pro-forma revenues of \u20ac14.1bn ($16.39bn) and EBIT of \u20ac1.4bn in 2024, Coca-Cola HBC said when the deal was announced. The businesses together would account for two-thirds of the volumes put through the Coca-Cola system in Africa. <\/p>\n The remaining 25% of CCBA is subject to an option agreement between Coca-Cola HBC and The Coca-Cola Company. <\/p>\n “Tribunal conditionally clears Coca-Cola bottling deal” was originally created and published by Just Drinks<\/a>, a GlobalData owned brand. <\/p>\n<\/p><\/div>\n