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Coca-Cola To Hold On To Majority Stake In CCBA; Will Incorporate Financials In Its Own Results

May 20, 2019: 12:00 AM EST
Coca-Cola announced it will retain a majority stake in Coca-Cola Beverages Africa as “a very important part of the Coca-Cola system” for the foreseeable future. The company said it would begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019. CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017. As a result of the reclassification, Coca-Cola expects CCBA will provide reclassified prior year financial information before the second quarter earnings release; and depreciation and amortization will be reinstated. CCBA’s results will be reported as part of the Bottling Investments Group segment.
"Coca-Cola Updates Plans for Coca-Cola Beverages Africa, Including Intent to Retain Majority Stake in Bottler", Business Wire , May 20, 2019, © Business Wire, Inc.
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