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SOBO selling its non-alcoholic beverages to Coca-Cola

Maravi Post Reporter

By Chisomo Phiri

BLANTYRE-(MaraviPost)-Castel Group, the leading producer and distributor of alcoholic and non-alcoholic beverages in Malawi has announced that Southern Bottlers Limited (SOBO) has agreed to sell its soft drinks business to Coca-Cola Beverages Limited (CCBL), a subsidiary of Coca-Cola Beverages Africa (CCBA).

In a statement dated February 18, 2022, the company said the transaction remains subject to obtaining the necessary regulatory approvals, including approval by the COMESA Competition Commission.

Sobo: favorite Malawin soft drink

The statement added that the divestment of the soft drinks business is in line with the board’s strategy to focus on investments in its alcoholic beverages business.

“This is a great opportunity for the country as the CCBA group has a strong track record on the continent and is committed to sustainable growth where it operates,” reads a statement in part.

However, the company says it will communicate further regarding regarding the transaction as soon as the necessary regulatory approvals have been received by the parties.

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Should You Buy and Hold Coca-Cola Shares?

Maravi Post Reporter

Coca Cola Stocks
Enjoying Coca Cola – Should you buy Coca cola stocks

Coca-Cola has found itself struggling in some very choppy, some might even say, tumultuous waters. Over the past decade, the beverage world has been unceremoniously flipped,head over heels, in the surf. The latest report by New York Times determined that there is clear evidence that consumers are losing their taste for soda. And it doesn’t matter the brand—Dr. Pepper, Pepsi, even the almightyCoca-Cola—all are falling out of favor.

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