According to reports in the Indian press, Coca-Cola India has committed itself to selling off the remaining 39% of the 49% equity stake it is required to relinquish under Indian law, by February next year to meet a government deadline.

The company, required to sell a 49% stake in the previously wholly owned subsidiary, has already sold off 10% to employees. The other 39% is to be sold to private investors and business associates. Coca-Cola India deputy president, Sanjiv Gupta, was quoted as saying that the company was committed to divesting another 39% of its equity by the end of February 2003.