Katishi Masemola, general secretary of the Food and Allied Workers’ Union, is hoping his members will bag an 18% stake in Coca-Cola Beverage South Africa (CCBSA), the largest Coca-Cola bottler in SA. The stake, which would be worth several hundred millions of rand, would have to be vendor-financed. Masemola told the Competition Tribunal on Wednesday in Pretoria that employees of CCBSA should get this stake as part of the employee share ownership programme that is to be set up in terms of the conditions attached to approval of The Coca-Cola Company’s (TCCC’s) acquisition of Anheuser Busch Inbev’s (formerly SABMiller’s) 57% stake in CCBA. CCBA was established in 2016, following a drawn-out merger process initiated in 2014. Its bottling operations cover SA, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros. The South African bottling operation (CCBSA) is the largest. On Wednesday, the tribunal conditionally approved the $3.4bn transaction, which was pro...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.