Coca-Cola Icecek acquires control of Iraq bottler

Coca-Cola Icecek acquires control of Iraq bottler

Coca-Cola Icecek has acquired the remaining 70% of Iraq drinks bottler CC Beverage Ltd for a total US$36.9m.

The company said today (10 March) that it has increased its indirect shareholding in CC Beverage Ltd (CCBL) from 30% to 100%. It has done this by acquiring shares in CCBL's parent firms from The Coca-Cola Export Corp for $36.9m.

Coca-Cola Icecek has acquired SSG Investment Ltd, which owns a 40% share in CCBL, and the 50% stake of Coca-Cola Bottling of Iraq that it does not already own. Coca-Cola Bottling of Iraq holds a 60% share in CCBL.

Turkey-based Coca-Cola Icecek is itself a subsidiary of Turkey's Anadolu Efes and is the world's fifth biggest Coca-Cola drinks bottler by volume. The Coca-Cola Export Corp retains a 20% stake in Coca-Cola Icecek.

To read the official statement, click here.