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Coca-Cola Hellenic to invest $1B in Egypt in coming period

Coca-Cola Hellenic to invest $1B in Egypt in coming period

ArabFinance: Coca-Cola Hellenic Bottling Company (HBC) plan to invest $1 billion in the Egyptian market over the coming five years, following its acquisition of Coca-Cola Bottling Company of Egypt (CCBCE), according to a statement by the cabinet.

The new investment will be allocated for building factories and adding production lines.

The statement did not give further details.

In August, a subsidiary of HBC purchased a 94.7% stake in CCBCE for USD 427 mn, giving it access to Egypt, one of the largest markets in Africa.

FTSE 100-listed Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world and is 23% owned by the US’ Coca-Cola Company.

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