Coca-Cola Updates Plans for Coca-Cola Beverages Africa, Including Intent to Retain Majority Stake in Bottler
(WorldNews Africa)

ATLANTA--(BUSINESS WIRE)--May 20, 2019-- The Coca-Cola Company announced today that it will maintain its majority stake in Coca-Cola Beverages Africa for the foreseeable future. With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019, in accordance with U.S. accounting standards. CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017. Coca-Cola previously announced its intention to refranchise CCBA, which is the largest bottler of Coca-Cola beverages in Africa, serving 12 countries. The company has had discussions with a...