Coca-Cola Company is planning to complete the process of selling a 49% stake in its Indian operations by the end of the month, the Press Trust of India reported today.
In the article, Alex von Behr, Coca-Cola India’s president was quoted as saying: “Coca-Cola is moving toward completing the disinvestment of the 49% equity. Our bankers are talking to financial institutions and high net worth individuals and the process is expected to be completed by February 28th.”
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In October Coca-Cola sold a 10% stake to employees. It will now sell a further 39% to Indian residents. The company is required to make these disposals in order to adhere to Indian government regulations pertaining to foreign investment in the country.
