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4-Traders Homepage  >  Equities  >  Euronext Bruxelles  >  Anheuser-Busch InBev    ABI   BE0974293251

ANHEUSER-BUSCH INBEV (ABI)
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AB InBev completes $3.15 billion Coca-Cola Africa transition

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10/06/2017 | 02:50am CEST

Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5 percent equity stake in Coca-Cola Beverages Africa.

JOHANNESBURG - The world's largest brewer, Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for U.S.$3.15 billion after customary adjustments.

This comes after AB InBev last year acquired SABMiller for U.S.$104 billion and reached an agreement to transition AB InBev’s 54.5 percent equity stake in CCBA to Coca-Cola.

CCBA, the largest Coca-Cola bottler in Africa, was formed in 2016 through the combination of the African non-alcohol ready-to-drink bottling interests of SABMiller plc, The Coca-Cola Company and Gutsche Family Investments.

It includes entities in South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte, and Comoros, which account for about 40 percent of all Coca-Cola beverage volumes in Africa.

The transition, which was first announced in December 2016, makes The Coca-Cola Company the controlling shareholder of CCBA.

The Coca-Cola Company plans to hold all of these territories temporarily until they can be refranchised to other partners, also with the intent to account for the acquired stakes as a discontinued operation for reporting purposes.

Following completion, AB InBev said CCBA will remain subject to the agreement reached with the South African government and the South African competition authorities on several conditions.

The Coca-Cola Company said it recognises the value of driving CCBA's operations from South Africa and recommitted that CCBA will remain incorporated and tax-resident in South Africa, and its head office will also remain in South Africa.

In addition, the companies would continue to work towards finalizing the terms and conditions of the agreement for The Coca-Cola Company to acquire AB InBev's interest in, or the bottling operations of, its businesses in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador, and Honduras. The amount for this transaction is yet to be announced.

These transactions are subject to the relevant regulatory and shareholder approvals in the different jurisdictions.

-AFRICAN NEWS AGENCY

(c) Cape Community 1999 - 2017 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV 0.91% 89.54 Delayed Quote.-3.85%
COCA-COLA COMPANY (THE) 0.38% 45.28 Delayed Quote.-1.31%
SECHABA BREWERY HOLDINGS LIMITED --End-of-day quote.
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Financials ($)
Sales 2018 56 211 M
EBIT 2018 18 881 M
Net income 2018 9 148 M
Debt 2018 99 873 M
Yield 2018 3,81%
P/E ratio 2018 23,06
P/E ratio 2019 19,61
EV / Sales 2018 4,89x
EV / Sales 2019 4,67x
Capitalization 175 B
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Average target price 123 $
Spread / Average Target 17%
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Carlos Alves de Brito Chief Executive Officer
Olivier Goudet Chairman
Luis Felipe Pedreira Dutra Leite Chief Financial & Technology Officer
Martin J. Barrington Non-Executive Director
William F. Gifford Non-Executive Director
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