Coca-Cola completes Aujan stake acquisition
Dubai, October 15, 2012
The Coca-Cola Company today announced it has completed the transaction to acquire approximately half of the equity in Aujan Industries beverage business, one of the largest independent beverage companies in the Middle East.
With the completion of the transaction, Coca-Cola has acquired 50 percent of the Aujan entity that holds the rights to Aujan-owned brands, and 49 percent of Aujan's bottling and distribution operations, excluding its operations in Iran, a statement said.
The transaction, initially announced in December 2011, is part of the company’s plans to invest $5 billion in the Middle East and North Africa region over the next 10 years.
"Today begins the next era of growth for our system across the Middle East and North Africa," said Ahmet C Bozer, president, Eurasia and Africa, The Coca-Cola Company.
"This transaction creates a platform for further cooperation between the company, Aujan and existing bottling partners across the region to dramatically change the juice landscape," he said.
The deal allows Coca-Cola to expand its portfolio in the juice sector and continue to drive long-term value for all shareholders, the statement said. – TradeArabia News Service