Coca-Cola sells 21.5% shares in Appletiser
Coca-Cola Beverages South Africa has sold 21.5 percent of the Appletiser brand. This includes a 17.5 percent stake that went to black-owned investment firm African Pioneer Group, and a further four percent to Sipho Excellent Madlala, a new entrant black empowerment partner.
Last year, Coca-Cola deconsolidated its South African bottling operations, disposing of its related equity method investment in exchange for equity method investments in Coca-Cola Beverages Africa (CCBA) and CCBA's South African subsidiary.
The sale is designed to empower more black shareholders to own a stake in the company. It comes a year after Coca-Cola announced that it had made good progress on its female empowerment targets.
Pictured: Coca-Cola Beverages FD, Walter Leonhardt