Coca-Cola to sell majority stake in African bottling unit to Coca-Cola HBC for $3.4 billion

The Coca-Cola Company is cutting back its bottling operations in Africa. The global beverage giant is selling a majority stake in Coca-Cola Beverages Africa, its biggest bottler on the continent, to Coca-Cola HBC in a deal worth 3.4 billion US dollars. The move marks another step in Coca-Cola’s plan to hand over bottling operations to independent partners, leaving the company to focus on building brands and driving sales