Aujan Industries and The Coca-Cola Company Announce Signing of $980 Million Agreement
Aujan Industries and The Coca-Cola Company (NYSE: KO) today announced a binding agreement for The Coca-Cola Company to acquire approximately half of the equity in Aujan's existing beverage business.
Once closed, this $980 million transaction will provide Saudi Arabia-based Aujan Industries a platform to accelerate the international growth of the Aujan brands, including Rani and Barbican, while enhancing the regional outlook for licensed brand Vimto. The transaction will present The Coca-Cola Company a significant equity stake in one of the leading still beverage businesses in the Middle East.
This transaction represents the largest-ever investment by a multinational firm in the Middle East's fast moving consumer goods sector, reflecting the strength of Aujan's operations. Aujan holds a top-three position in still beverages in every country in which it operates and is one of the top 100 companies in Saudi Arabia with total annual revenues exceeding $850 million.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.