The Coca-Cola Company is now a shareholder of the holding company of Chi Limited, Tropical General Investments Group . . .
Both companies, in a statement on Saturday, said a binding agreement had been concluded for the Coca-Cola Company to acquire an initial minority equity shareholding in Chi Ltd.
In the statement by Chief Public Affairs and Communications Officer, The Coca-Cola Company, Dan Baxter, and Head of Performance Management Group, TGI Group of Companies, Dr. Johannes Flosbach, both companies said the agreement creates a strategic relationship within Africa’s largest economy that together serve Nigeria’s most popular sparkling soft drinks, juices, value-added dairy and water beverage brands.
The Coca-Cola Company was said to have made an initial 40 per cent equity investment in Chi Ltd and expressed the intention to increase ownership to 100 per cent within three years, subject to regulatory approvals, while working on other long-term commercial structures.
The statement further read, “The investment in Nigeria’s leading value-added dairy and juice beverage brands – which include Hollandia and Chivita — further expands The Coca-Cola Company’s West African portfolio of still beverages while establishing Coca-Cola’s presence in Africa’s high-growth value-added dairy category.
MBR | Xtraview news