The Coca-Cola Company Announces Plans to Delay Listing of Coca-Cola Beverages Africa as a Publicly Traded Company
14 June 2022 - 11:30PM
Business Wire
The Coca-Cola Company announced today that it is delaying plans
to list Coca-Cola Beverages Africa (CCBA) as a publicly traded
company.
In April 2021, The Coca-Cola Company first disclosed its
intention to sell a portion of its shareholding in CCBA via an
initial public offering. The decision is in line with The Coca-Cola
Company’s objective of focusing its resources on building
consumer-loved brands and innovation.
The announcement said the exact timing would be driven by a
number of factors, including macroeconomic conditions.
The Coca-Cola Company will continue to evaluate macroeconomic
conditions in deciding future timing for an IPO in 2023. Plans to
have an Africa-focused bottler traded as an independent public
company remain unchanged.
About The
Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company
with products sold in more than 200 countries and territories. Our
company’s purpose is to refresh the world and make a difference. We
sell multiple billion-dollar brands across several beverage
categories worldwide. Our portfolio of sparkling soft drink brands
includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee
and tea brands include Dasani, smartwater, vitaminwater, Topo
Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka.
Our nutrition, juice, dairy and plant-based beverage brands include
Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re
constantly transforming our portfolio, from reducing sugar in our
drinks to bringing innovative new products to market. We seek to
positively impact people’s lives, communities and the planet
through water replenishment, packaging recycling, sustainable
sourcing practices and carbon emissions reductions across our value
chain. Together with our bottling partners, we employ more than
700,000 people, helping bring economic opportunity to local
communities worldwide. Learn more at www.coca-colacompany.com and
follow us on Twitter, Instagram, Facebook and LinkedIn.
About Coca-Cola Beverages
Africa
CCBA is the 8th largest Coca-Cola bottling
partner in the world by revenue, and the largest on the continent.
It accounts for over 40% of all Coca-Cola products sold in Africa
by volume. With over 17,000 employees in Africa, CCBA services more
than 600,000 customers with a host of international and local
brands. The group was formed in July 2016 after the successful
combination of the southern and east Africa bottling operations of
the non-alcoholic ready-to-drink beverages businesses of The
Coca-Cola Company, SABMiller plc and Gutsche Family Investments.
CCBA shareholders are currently: The Coca-Cola Company 66.5% and
Gutsche Family Investments 33.5%. CCBA operates in 14 countries,
including its six key markets of South Africa, Kenya, Ethiopia,
Uganda, Mozambique and Namibia, as well as Tanzania, Botswana,
Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini and
Lesotho. Learn more at https://www.ccbagroup.com and follow us on
LinkedIn
Forward-Looking
Statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” as defined
under U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause The
Coca-Cola Company’s actual results to differ materially from its
historical experience and our present expectations or projections.
These risks include, but are not limited to, our ability to realize
the anticipated benefits from the potential initial public offering
of Coca-Cola Beverages Africa, including whether such initial
public offering will be completed on the anticipated timeline, if
at all, and other risks discussed in our filings with the
Securities and Exchange Commission (the “SEC”), including our
Annual Report on Form 10-K for the year ended December 31, 2021 and
our subsequently filed reports, which filings are available from
the SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. We
undertake no obligation to publicly update or revise any
forward-looking statements.
Disclaimer
This announcement is not an offer to sell or a solicitation of
any offer to buy any securities to be issued by CCBA in any
jurisdiction, including the United States. The securities of CCBA
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the “Securities Act”) and may not be
offered absent registration or an exemption from registration.
There will be no public offering of the securities in the United
States.
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version on businesswire.com: https://www.businesswire.com/news/home/20220614005058/en/
CCBA Contacts: Investor Relations: Janine Ackermann, Head of
Investor Relations, JAckermann@ccbagroup.com Media: Wendy Thole-Muir, Head of Communications,
wthole-muir@ccbagroup.com
The Coca-Cola Company
Contacts: Investors and
Analysts: Tim Leveridge, koinvestorrelations@coca-cola.com
Media: Scott Leith,
sleith@coca-cola.com
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