Coca-Cola sells 40% in HCCBL to Jubilant Bhartia

Highlights

New Delhi: Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to...

New Delhi: Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group.

Though the company has not disclosed the amount of the deal, some media reports have pegged it at around Rs10,000 crore.

“The Coca-Cola Company today announced that it has reached an agreement with Jubilant Bhartia Group, a multi-billion conglomerate with global presence in diverse sectors, to acquire 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd,” a joint statement said.