Hindustan Coca-Cola Beverages Pvt. Ltd., the Indian subsidiary of the Coca-Cola Co. has, according to reports in India, completed the sale of 49% of its equity. Under Indian regulations relating to foreign investment, Coca-Cola was compelled to sell off at least 49% of its previously wholly-owned subsidiary to Indian investors.

According to the reports, Coca-Cola has sold around 6% of the shares to former and current bottlers and suppliers, around 33% has been placed with financial and private investors, while 10% has been transferred to Hindustan Coca-Cola Beverages Employee and Welfare Trusts.

It has also been confirmed that Coca-Cola will invest around US$100m in the expansion of its operations in India in 2003. Coke has already invested more than US$800m in India. The company said the investment would be focused on building new plants and expanding existing capacity.