Coca-Cola to buy out AB InBev from Africa JV for US$3.15b

London

COCA-COLA Co will pay US$3.15 billion to buy Anheuser-Busch InBev NV out of an African bottling joint venture after the Budweiser brewer's takeover of the US beverage company's partner in the region.

Wednesday's announcement comes just over two months after the companies said they were in negotiations following AB InBev's completion of the takeover of SABMiller. Coca-Cola also agreed to buy AB InBev's interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and Honduras for an undisclosed sum.