By Denny Jacob

Coca-Cola Co. said Tuesday it is suspending its business in Russia.

The soft drink company said it will continue to monitor and assess the situation as circumstances evolve.

Coca-Cola said the impact to the company is not yet fully known. The company's business in Russia and Ukraine contributed about 1% to 2% of its consolidated net operating revenues and operating income in 2021, according to its most recent public filing. The company said it had an approximately 21% ownership interest in Coca-Cola HBC AG, the company's bottling and distribution partner in the region, as of Dec. 31, 2021.

Shares of Coca-Cola are down 3.7% at $58.81 late in Tuesday's trading session.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 08, 2022 16:12 ET (21:12 GMT)

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