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HC Securities & Investments acted as co-advisor to MAC Beverages Ltd and its affiliates (“MBL”) on the sale of their 52.7% stake in Coca-Cola Bottling Company of Egypt (“CCBCE”), as a part of Coca-Cola HBC Holdings B.V (“CCH Holdings”) acquisition of 94.7% of total CCBCE’s shares for an agreed total combined purchase price of US$ 427 million, subject to certain adjustments.
The parties have entered into definitive agreements. The transaction is expected to close in late Q4 2021, subject to satisfaction of various conditions, including the receipt of certain lenders consents under CCBCE’s existing loan facilities and certain regulatory and other conditions.
Mohamed Aburawi, Head of Investment Banking at HC commented: “We are pleased to support MBL on this landmark transaction. HC has developed a long term relationship with MBL for more than a decade advising MBL on a number of high profile transactions in the F&B and packaging sectors. This transaction testifies of Egypt’s attractiveness as a promising investment destination offering great business opportunities appealing to prominent international strategic investors”
International Transaction Press Release
Enquiries
For further information, please visit www.hc-si.com or contact Marwa Nakhla, Corporate Communications Supervisor, at mnakhla@hc-si.com
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HC Securities & Investment
HC Securities & Investment (HC) is a leading investment bank in Egypt and the MENA region. Since its inception in 1996, HC has leveraged its relationship-driven insights, local and regional market knowledge, industry-specific expertise and strong execution capabilities to provide its clients with a wide range of services in investment banking, asset management, securities brokerage, research, custody, online trading and private equity through its offices in Egypt and the UAE (DIFC). HC Investment Banking has an outstanding track record of advising leading corporates in Egypt and the MENA region on M&A, capital market, and financing transactions in excess of USD 5.9bn. HC Asset Management, now manages 9 onshore mutual funds for commercial banks and portfolios for institutions and sovereign wealth funds with assets under management in excess of EGP 7bn. HC Brokerage is ranked among the top brokers in Egypt and provides a wide array of services, including research and online trading to institutional and retail clients.
About the Coca-Cola Bottling Company of Egypt
CCBCE was founded in 1994 as a joint venture company between The Coca-Cola Company (through the TCCC Seller) and MAC Beverages Limited and certain of its affiliated entities. MBL and certain of its affiliated entities and individuals currently have an approximately 52.7% shareholding in CCBCE while the TCCC Seller has an approximately 42% shareholding in CCBCE. The balance of the shares in CCBCE are held, and will continue to be held, by a diverse group of minority shareholders. CCBCE is a leading producer of non-alcoholic ready to drink beverages in Egypt operating five bottling plants. Its products include Coca-Cola, Sprite, Fanta, Schweppes, Schweppes gold, Crush and Dasani water. CCBCE recorded volume of approximately 275 million and 266 million unit cases and net sales revenue of EGP7.4 billion and EGP 7.2 billion for the years ended 31 December 2020 and 2019, respectively.
About MAC Beverages Limited
MAC Beverages Limited is a privately owned group with investments in the beverages and packaging sectors in the MENA region. It has been an owner of CCBCE, the bottler of TCCC group’s beverages in Egypt since 1994. Certain affiliates of MAC Beverages Limited retain the rights to produce and sell beverages bearing TCCC’s brands in Libya and Yemen.
About Coca-Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve more than 600 million consumers across a broad geographic footprint of 28 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our more than 26,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
© Press Release 2021
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