Coca-Cola Beverages Africa, which will account for 40 percent of all Coke volumes sold in Africa, will be headquartered in South Africa, its largest market. Upon completion of the all-equity deal, Coke will own 11.3 percent of the venture, the Gutsche family that owns Coke Sabco 31.7 percent and SABMiller 57 percent. The South African Competition Commission investigates deals for any antitrust issues and recommends remedies to the Competition Tribunal, which makes a final ruling. [nL5N18172C]The Competition Tribunal said the deal can go ahead subject to several conditions. The bottling deal was given a preliminary approval in December by South Africa's Competition Commission.

Source: Standard Digital May 11, 2016 02:04 UTC