Coca-Cola Deal Cleared, Subject to Worker Protections

The Competition Tribunal of South Africa has given its approval for Coca-Cola HBC to acquire Coca-Cola Beverages Africa (CCBA), subject to certain conditions. The deal, valued at approximately $2.6 billion, will see Coca-Cola HBC gain a 75% controlling stake in CCBA, which is the largest bottler of Coca-Cola products in Africa.

The tribunal has imposed restrictions on retrenchments and requires Coca-Cola HBC to invest in South Africa's distribution and retail network. Additionally, the company has committed to pursuing a secondary listing on the Johannesburg Stock Exchange.

Coca-Cola HBC will acquire 75% of CCBA's shares as part of the deal. The acquisition is expected to be completed by the end of this year, pending remaining regulatory requirements.