Coca Cola buys 40% stake in Chi Ltd

Coca Cola buys 40% stake in Chi Ltd

Saturday, January 30, 2016 11:40 pm


The Coca-Cola Company has bought a 40-percent stake in Nigerian juice and dairy firm Chi Ltd from unlisted European firm TGI Group, both companies said in a statement on Saturday.

Coca-Cola “intends to increase ownership within three years, subject to regulatory approvals”, the statement said.

It gave no valuation for the deal but an industry source said Coca-Cola was paying a “triple-digit-million-dollar” amount for the 40-percent stake.

 

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