The Coca-Cola Co has added details to yesterday’s confirmation of its plan to launch an IPO for its bottler unit in Africa.

Coinciding with the release of results for the first quarter, Coca-Cola said yesterday that it intends to list part of its holding in Coca-Cola Beverages Africa. In a separate statement, the group did not provide details of how much of its 66.5% stake will go towards the IPO, but that the move would occur “within the next 18 months” with shares to be listed in Amsterdam and Johannesburg.

The move forms part of Coca-Cola’s strategy to concentrate more on brand-building and innovation.

“The Coca-Cola Co sees Africa as a key growth market and views a separate listing of CCBA as an opportunity to deliver a broad, supportive, long-term investor base for the ongoing development of the business,” said group president for Africa, Bruno Pietracci.

CCBA commenced operations in mid-2016 as a joint venture between Coca-Cola, Coca-Cola Sabco and SABMiller. The subsequent takeover of SAB by Anheuser-Busch InBev resulted in Coca-Cola exercising its put option later in the year. The soft drinks giant went so far as to explore a sale of its stake two years ago, but decided to retain control after negotiations failed to secure a buyer.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Are hard seltzers paving the way for ‘soft seltzers’? – Click here for a just-drinks comment