Coca-Cola Deal Gets Green Light with Strict Conditions for Worker Protection

The Competition Tribunal has approved the acquisition of Coca-Cola Beverages Africa (CCBA) by Coca-Cola HBC, but with strict conditions to protect workers and ensure broader public-interest benefits.

The deal, valued at $2.6 billion, sees Coca-Cola HBC acquiring a 75% controlling stake in CCBA, Africa's largest Coca-Cola bottler. The transaction is expected to be completed by the end of this year, subject to remaining regulatory requirements.

The conditions include restrictions on retrenchments and a commitment to invest in South Africa's distribution and retail network. Coca-Cola HBC has also agreed to pursue a secondary listing on the Johannesburg Stock Exchange.