Jubilant Beverages Secures CCI Nod for Coca-Cola Stake Acquisition

Jubilant Beverages Ltd has received approval from the Competition Commission of India (CCI) to acquire a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd. The acquisition is part of The Coca-Cola Company's asset-light strategy. The financial details are undisclosed but estimated at Rs 10,000 crore.

The Competition Commission of India (CCI) has given the green light to Jubilant Beverages' proposal to acquire a significant 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd. This strategic move is part of The Coca-Cola Company's overarching plan to streamline its bottling operations globally, following its asset-light strategy.

The deal does not reveal specific financial details, though industry insiders approximate the transaction value at around Rs 10,000 crore. Jubilant Beverages is a new entity within the Jubilant Bhartia Group, aiming to widen its footprint in the Indian beverage market.

Approval of the acquisition underscores CCI's role in regulating mergers and acquisitions to ensure they align with competitive market principles. This decision coincides with other significant CCI-approved deals, such as KKR's strategic acquisition in HealthCare Global Enterprises Ltd.

(With inputs from agencies.)