{"id":558501,"date":"2021-08-15T04:12:57","date_gmt":"2021-08-15T04:12:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/greek-bottler-acquires-coke-in-egypt-in-landmark-foreign-investment\/"},"modified":"2021-08-15T04:12:57","modified_gmt":"2021-08-15T04:12:57","slug":"greek-bottler-acquires-coke-in-egypt-in-landmark-foreign-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/greek-bottler-acquires-coke-in-egypt-in-landmark-foreign-investment\/","title":{"rendered":"Greek bottler acquires Coke in Egypt in landmark foreign investment"},"content":{"rendered":"

<\/a> Coca-Cola HBC to acquire Coca-Cola Bottling Company of Egypt:<\/strong> A subsidiary of the Coca-Cola Hellenic Bottling Company (HBC) has agreed to purchase a majority stake in Coca-Cola Bottling Company of Egypt (CCBCE) in a transaction valued at USD 427 mn, the company announced in a statement<\/a> on Thursday. Coca-Cola HBC Holdings will acquire approximately 94.7% of CCBCE from existing shareholders the Coca-Cola Company and MAC Beverages, the company said.<\/p>\n

Who\u2019s selling?<\/strong> Atlantic industries \u2014 an Egypt-based, wholly owned affiliate of the Coca-Cola Company \u2014 sold its 42% stake in CCBCE to HBC, according to a press release (pdf)<\/a>. MAC beverages, a privately owned group with investments in the beverages and packaging sectors in the MENA region that has been an owner of CCBCE since 1994, was the seller of the remaining stake.<\/p>\n

Who\u2019s buying? <\/strong>FTSE 100-listed Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world and is 23% owned by the US\u2019 Coca-Cola Company.<\/p>\n

How big is Coca Cola\u2019s local affiliate? <\/strong>CCBCE sold about 275 mn \u201cunit cases\u201d in 2020 (+3.4% over 2019), giving it net sales revenue of EGP 7.4 bn (+2.8% year-on-year). The company\u2019s brands include Coca-Cola, Sprite, Schweppes and Dasani, among others.<\/p>\n

Acquiring CCBCE will allow HBC to accelerate its growth in Egypt<\/strong>, which the statement described as \u201cthe second largest non-alcoholic ready-to-drink market [in Africa] by volume.\u201d Coca-Cola HBC\u2019s presence in 28 markets globally would bring CCBCE greater opportunities to innovate for efficiency and maximize growth, it added.<\/p>\n

HBC could snap up another 2.8% of the company<\/strong> if it looks for agreements with other minority shareholders \u201cwhich may be entered into in due course,\u201d the company said in a separate emailed statement.<\/p>\n

The transaction follows a strong six months for HBC<\/strong>, which on the same day reported<\/a> net income of USD 233.1 mn in 1H2021, an 88% jump from the same period last year. The company attributed the bottom line growth to a pickup in revenues (+23%) on the back of improving market share.<\/p>\n

\u201cThis transaction promises to strengthen our system in Egypt,\u201d Coca-Cola Company CEO Brian Smith <\/strong>was quoted as saying in the statement, adding that the agreement \u201crepresents an important development in the Coca-Cola system\u2019s long-term commitment to the growth and development of this important market.\u201d<\/p>\n

ADVISORS-<\/strong> Matouk Bassiouny & Hennawy and Clifford Chance LLP acted as legal counsel to CCBCE, while Zulficar and Partners, Mena Associates \u2013 Amereller, and Sullivan & Cromwell LLP acted as counsel to the buyer.<\/p>\n

\n

IN OTHER M&A NEWS- Bahrain\u2019s Bank ABC has concluded its USD 425 mn acquisition of <\/strong>99.4% of Blom Bank\u2019s Egypt arm.<\/strong> Blom\u2019s advisor in the sale, CI Capital, made the<\/a>announcement (pdf)<\/a> overnight. Blom entered Egypt in 2006, but is leaving amid stress on financial institutions in its home market of Lebanon. The transaction gives Bank ABC 68 branches nationwide, we previously reported<\/a>, as Blom\u2019s 41 locations are added to its existing network.<\/p>\n

ADVISORS-<\/strong> CI Capital Investment Banking was sell-side advisor to Blom Bank SAL, while Baker McKenzie served as legal counsel to the seller. The transaction is CI Capital\u2019s third concluded M&A of 2021. Bank ABC was advised by HSBC Bank Middle East, with Zulficar & Partners doing legal duties.<\/p>\n

ALSO-<\/strong> An unnamed state-owned bank is reportedly mulling snagging a 10-20% <\/strong>stake in e-payments platforms Bee + Masary<\/strong> as part of non-banking financial services player Ebtikar\u2019s wider plans to sell stakes in its two subsidiaries, Al Shorouk<\/a> reports, citing unnamed sources with knowledge of the plans. The sources did not name the bank, specify a transaction value or provide further details.<\/p>\n

Vodafone Egypt could close acquisition of <\/strong>a 20% stake in Bee + Masary<\/a><\/strong> within days<\/strong> after having already submitted an offer and wrapped up earlier this month<\/a> its due diligence on the two firms. The telecom giant plans to acquire the shares through a capital increase under the terms of an MoU signed with Ebtikar in February.<\/p>\n

Who currently owns what?<\/strong> Ebtikar holds a 72% stake in Masary, with the remainder owned by Bahrain\u2019s Sadad. Bee is a 60%-owned subsidiary<\/a> of Ebtikar, with the remainder held by two other investors including Techno Beez. Ebtikar, which is planning an IPO<\/a> in 4Q2021, is a joint venture between B Investments, BPE Partners and MTI.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coca-Cola HBC to acquire Coca-Cola Bottling Company of Egypt: A subsidiary of the Coca-Cola Hellenic Bottling Company (HBC) has agreed to purchase a majority stake in Coca-Cola Bottling Company of Egypt (CCBCE) in a transaction valued at USD 427 mn, the company announced in a statement on Thursday. Coca-Cola HBC Holdings will acquire approximately 94.7% […]<\/p>\n","protected":false},"author":1,"featured_media":558502,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[1760,72,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-coca-cola","tag-enterpriseam","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"4aa5c8a6-4089-42cb-a442-f739179ba4c5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/159.jpg","photo_position":"above","related_issue":[558495],"teaser":"","voice_url":""},"yoast_head":"\nGreek bottler acquires Coke in Egypt in landmark foreign investment - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/greek-bottler-acquires-coke-in-egypt-in-landmark-foreign-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greek bottler acquires Coke in Egypt in landmark foreign investment\" \/>\n<meta property=\"og:description\" content=\"Coca-Cola HBC to acquire Coca-Cola Bottling Company of Egypt: A subsidiary of the Coca-Cola Hellenic Bottling Company (HBC) has agreed to purchase a majority stake in Coca-Cola Bottling Company of Egypt (CCBCE) in a transaction valued at USD 427 mn, the company announced in a statement on Thursday. 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The money will go towards building\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/599.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633584,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/17\/ebrd-extends-usd-130-mn-loan-to-coca-cola-hbc-egypt\/","url_meta":{"origin":558501,"position":1},"title":"EBRD extends USD 130 mn loan to Coca-Cola HBC Egypt","author":"enterpriseam admin","date":"17 July 2024","format":false,"excerpt":"The loan will be complemented by a USD 750 grant","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1301.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564192,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/russia-triples-flights-to-hurghada-sharm-el-sheikh\/","url_meta":{"origin":558501,"position":2},"title":"Russia triples flights to Hurghada, Sharm El Sheikh","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"Russia will triple the number of weekly flights from Moscow to Sharm El Sheikh and Hurghada starting 27 August, RT reports, citing a statement from Russia\u2019s covid advisory panel. The committee named Egypt as one of five countries to see an increase in Russian passenger flights, with each of the\u2026","rel":"","context":"In "SPEED ROUND: TOURISM"","block_context":{"text":"SPEED ROUND: TOURISM","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/441.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":674033,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/ownership-shakeup-at-coca-cola-beverages-africa\/","url_meta":{"origin":558501,"position":3},"title":"Ownership shakeup at Coca-Cola Beverages Africa","author":"enterpriseam admin","date":"22 October 2025","format":false,"excerpt":"PLUS- The Egyptian Anode Blocks Company\u2019s Ain Sokhna plant kicked off trial operations following the completion of the first phase of rehabilitation","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1073.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593337,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/25\/coca-cola-egypt-is-planning-to-invest-usd-500-mn-over-three-years\/","url_meta":{"origin":558501,"position":4},"title":"Coca-Cola Egypt is planning to invest USD 500 mn over three years","author":"enterpriseam admin","date":"25 November 2019","format":false,"excerpt":"INVESTMENT WATCH- Coca-Cola Egypt is planning to invest USD 500 mn over the next three years, General Manager Ahmed Rady said in a video published on the Investment Ministry\u2019s Facebook page (watch, runtime: 1:28). Rady provided no details on the planned investment. The company invested USD 500 mn in Egypt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598546,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/coca-cola-appoints-new-general-manager-in-egypt\/","url_meta":{"origin":558501,"position":5},"title":"Coca Cola appoints new general manager in Egypt","author":"enterpriseam admin","date":"28 May 2019","format":false,"excerpt":"MOVES- Coca Cola Egypt has appointed Ahmed Rady (LinkedIn) as general manager, Masrawy reported. Rady has been working for the company for 20 years and previously served as General Manager for East Africa.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558501"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558501\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558502"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558501"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558501"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}