Coca-Cola Icecek increases stake in Pakistan subsidiary

Coca-Cola Beverages’ direct and indirect ownership in its Pakistani subsidiary CCBPL will be 99.34 percent. Coca-Cola Beverages announced that it has signed an agreement to acquire the shares of The Coca-Cola Company subsidiary in The Coca-Cola Beverages Pakistan Limited (CCBPL) through its subsidiary. According to the statement, Coca-Cola Beverages subsidiary CCI International Holland will pay $300 million to acquire Atlantic Industries’ 49.67 percent stake in the company. Upon completion of the transaction, Coca-Cola Beverages’ direct and indirect ownership in CCBPL will be 99.34 percent. The deal is expected to be completed in the first half of 2023, subject to approval from the government and other relevant authorities.