Coca-Cola Co. is seeking a value of 7 billion euros $8.1 billion for Coca-Cola Beverages Africa when it lists the next bottler according to people familiar with the matter.
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None What is the Front Line of the U.S. Citizenship and Immigration Act? The soft drinks giant is poised to appoint Bank of America Corp. Morgan Stanley and Standard Bank Group Ltd. to run the confidential private offering, the people said, asking not to be identified discussing confidential information. If more banks were to happen with the roster in the coming weeks, the people said.
Deliberations are ongoing and the final timing and size of the IPO will depend on investor appetite and market conditions, according to people. A representative from Coca-Cola sent a request to Africa business to the Representative. Representatives for Bank of America, Morgan Stanley and Standard Bank declined to comment.
Coca-Cola controls 66.5% of Coca-Cola Beverages Africa, after paid $3.15 billion in 2016 to buy Anheuser-Busch InBev out of the African bottling joint venture.
It tried to offload the stake a year later and at the time brought interest from the likes of Heineken NV and Coca-Cola HBC AG, Bloomberg News reported at the time. In April, Coca-Cola said it was working with Rothschild Co. on an IPO of the business, which had shares listed in Amsterdam and Johannesburg.
Coca-Cola Beverages Africa operates in 14 territories on the continent and accounts for about 40% of the Coca-Cola drinks sold there, according to its website. Coca-Cola announced a deal earlier this year to increase its local shareholding in its South Africa bottling unit.
The companies raised about $73 billion from IPOs on European exchanges this year, according to Bloomberg data, with the deals far exceeding stake sales for the first time since 2018.
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