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Coca Cola to offload 40 percent in HCCB to Jubilant Bhartia for Rs 12,500 crore
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Friday, 13 December, 2024, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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Coca Cola Company will offload 40 percent in its wholly-owned Indian bottling arm, Hindustan Coca Cola Beverages (HCCB), to Jubilant Bhartia Group for Rs 12,500 crore ($1.47 billion). The group will acquire the stake in HCCB through its entity, Jubilant Beverages.
The is the biggest transaction for the group, promoter of the pizza-to-pharma conglomerate which has exclusive franchise rights for Domino's Pizza. "Jubilant Bhartia Group will bring invaluable experience and insights to our business as we continue to grow our presence in India," said Henrique Braun, president of international development for Coca Cola.
In another development, HCCB has divested its bottling operations in Jharkhand to one of its largest franchisees bottling partners Moon Beverages, which currently operates its bottling in Delhi and parts of Uttar Pradesh, North-East, and select areas of West Bengal.
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