Egypt: Coca-Cola Hellenic Bottling Company to inject $1bn

Coca-Cola Hellenic Bottling Company (HBC) is set to invest $1 billion in the Egyptian market over the coming five years, following its acquisition of Coca-Cola Bottling Company of Egypt (CCBCE) according to a statement by office of the Egyptian Prime Minister.
Egypt became the 29th country around the world that HBC will be operating in, following the takeover.
The company in the coming five plans to set additional factories and lines. In August, a subsidiary of HBC purchased a 94.7% stake in CCBCE for $427 million, giving it access to Egypt, one of the largest markets in Africa, Arab Finance reports. Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world and is 23% owned by the US’ Coca-Cola Company.
The company according Rana Jamali, the head of the governmental relations and communications sector with Coca-Cola Egypt, has chosen the Arab country to host its annual international conference next March.