By Colin Kellaher

 

Coca-Cola Co. Monday said it plans to sell part of its Coca-Cola Beverages Africa unit via an initial public offering.

The Atlanta beverage giant said it plans to conduct the IPO within the next 18 months, subject to a number of factors, including macroeconomic conditions.

Coca-Cola Beverages Africa, or CCBA, is Africa's largest Coca-Cola bottler. Coca-Cola said the move will allow South Africa-based CCBA to operate as an independent, Africa-focused managed and domiciled business.

The company plans to list the unit's shares in Amsterdam and Johannesburg, with Amsterdam being the primary exchange.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 19, 2021 07:33 ET (11:33 GMT)

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