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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 CET

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

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Financials ($)
Sales 2017 56 841 M
EBIT 2017 17 728 M
Net income 2017 7 634 M
Debt 2017 99 397 M
Yield 2017 3,53%
P/E ratio 2017 28,48
P/E ratio 2018 22,18
EV / Sales 2017 5,05x
EV / Sales 2018 4,85x
Capitalization 188 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 131 $
Spread / Average Target 18%
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NameTitle
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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