HBC

abbreviation

1. Hudson's Bay Company

Example Sentences

Under the deal, Coca-Cola and long-standing partner Gutsche Family Investments agreed to sell a 75% stake in Coca-Cola Beverages Africa to London-listed Coca-Cola HBC CCH -0.51%decrease; red down pointing triangle in a transaction that values the African bottler as a whole at $3.4 billion, the companies said Tuesday.

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For Coca-Cola HBC, the acquisition aims to strengthen its footprint in Africa, it said.

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The deal is set to turn Coca-Cola HBC–which has operations in Europe and Africa–into the second biggest bottler in the Coca-Cola system by volume after Coca-Cola Femsa, the companies said.

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Following the completion of the transaction, Coca-Cola HBC will represent two-thirds of Africa’s total Coca-Cola system volume and cover more than 50% of the continent’s population, the company said.

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This means the family, which has been associated with Coca-Cola since 1940, will remain involved in both the Coca-Cola system and Africa through its stake in Coca-Cola HBC, the companies said.

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