Turkish Coca-Cola Icecek to acquire Coca-Cola Bangladesh for $130m Coca-Cola
Photo: Wikimedia Commons/The Coca Cola Company Representational image

Turkish Coca-Cola Icecek to acquire Coca-Cola Bangladesh for $130m

Bangladesh Live News | @banglalivenews | 17 Feb 2024, 01:04 pm

Dhaka, Feb 17: Turkish Coca-Cola Icecek (CCI) is going to acquire Coca-Cola Bangladesh Beverages Limited (CCBB) for USD 130 million (Tk 1,430 crore). An agreement has already been signed between the two companies. The deal is expected to be completed after regulatory approval in Dhaka.

An official statement in this regard has been published on the CCI website on Thursday (February 15). According to the statement, CCI will acquire 100 percent shares of Coca-Cola Bangladesh Beverages Limited.

Coca-Cola Bangladesh Beverages Limited manufactures, sells and distributes Coke brand beverages in the country. The company serves about 10 crore customers in Rangpur, Rajshahi, Mymensingh and Dhaka regions. They have more than three hundred employees. Besides, CCBB has a bottling plant, three warehouses and about 3,00,000 sales outlets. The number of distributors of the company is 500.

CCBB is expected to finance the acquisition with cash from CCI International Holland BV (CCIHBV).

According to the announcement, CCI entered into this agreement with its wholly owned subsidiary CCIHBV and a subsidiary of Coca-Cola Company. Its major shareholder will be CCIHBV.