Coca-Cola Suspends Business in Russia
March 08 2022 - 4:27PM
Dow Jones News
By Denny Jacob
Coca-Cola Co. said Tuesday it is suspending its business in
Russia.
The soft drink company said it will continue to monitor and
assess the situation as circumstances evolve.
Coca-Cola said the impact to the company is not yet fully known.
The company's business in Russia and Ukraine contributed about 1%
to 2% of its consolidated net operating revenues and operating
income in 2021, according to its most recent public filing. The
company said it had an approximately 21% ownership interest in
Coca-Cola HBC AG, the company's bottling and distribution partner
in the region, as of Dec. 31, 2021.
Shares of Coca-Cola are down 3.7% at $58.81 late in Tuesday's
trading session.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 08, 2022 16:12 ET (21:12 GMT)
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