(Boursier.com) — Coca Cola Postpones Coca-Cola Beverages Africa IPO given current macroeconomic conditions. In April 2021, the Atlanta-based soft drink giant announced its intention to sell part of its stake in CCBA via an IPO of the latter. An operation that is part of its efforts to focus its resources on brand building and innovation. Coca-Cola said on Tuesday that it “will continue to assess macroeconomic conditions to decide on the future timing of an IPO in 2023,” adding that its intention to complete an IPO remains unchanged.
CCBA is Coca-Cola’s 8th largest bottling partner in the world by revenue and the largest on the continent. It accounts for over 40% of all Coca-Cola products sold in Africa by volume.
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