Shanghai - Coca-Cola has entered into a deal to buy Anheuser-Busch InBev's [JSE:ANB] 54.5% stake in Coca-Cola Beverages Africa for $3.2bn, the companies said.
In addition, the companies have reached an agreement for Coca-Cola to buy AB InBev’s interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and Honduras for an undisclosed amount, according to a statement on Wednesday.
Coca-Cola plans to hold all of these territories temporarily until they can be refranchised to other partners, according to the statement.
Coca-Cola, the world’s largest soft-drink maker, is exiting all its bottling operations in China, as it pursues an asset-light strategy.
The Atlanta-based company has announced plans to speed up refranchising of its bottling operations as it seeks to reduce exposure to facilities that are more capital-intensive and low-margin.
Read Fin24's top stories trending on Twitter: Fin24’s top stories