Wednesday, 9 November 2016

DELTA : COCA COLA STAYING IN ZIM

Zimbabwe’s beverages manufacturer, Delta Corporation says Coca-Cola is not pulling out of Zimbabwe after the acquisition of a 40 percent stake in its associate firm, Sab Miller by AB Inbev.
The multimillion dollar acquisition of  Delta Corporation associate firm, Sab Miller by Belgian company, AB Inbev had resulted in market speculation that the transaction would result in Coca-Cola company withholding its interest in Zimbabwe’s operations.

While the deal means that AB Inbev has taken over the 40 percent shareholding in Delta Corporation, the parties to the deal are in discussions over the possibility of retaining all product portfolios within the local company.

Delta Corporation CEO, Mr Pearson Gowero told the ZBC News this Wednesday that Coca-Cola is going nowhere following the conclusion of the takeover transaction.

"Coca-Cola is going nowhere and it is committed to operate in Zimbabwe,” he said.

The takeover of Sab Miller by Inbev comes when Zimbabwe’s beverages sector has witnessed a rebound in production volumes despite limited disposable incomes that are hindering sales volumes.

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