- Coca-Cola (NYSE:KO) says it will exercise its right to acquire SABMiller’s (OTCPK:SBMRY, OTCPK:SBMRF) former interest in its largest African bottling company, saying it plans to implement its long-term strategic plan in these markets with other partners.
- The move comes after Anheuser-Busch InBev closed its acquisition of SABMiller to create a beer giant with a large African footprint; as of late August, SABMiller had a 54% stake in Coca-Cola Beverages Africa, which distributes ~40% of Coke's volumes in the continent.
- KO wants to keep AB InBev at arm's length amid speculation that the European company eventually could try to acquire it.