Coca Cola Hellenic Bottling Company (HBC) intends to invest $1 billion dollars in Egypt over the next five years, after acquiring Coca Cola Egypt, according to a statement from the Egyptian Cabinet.
The statement quotes Coca Cola Egypt’s chief executive Ahmed Afify saying the investment would include building factories and adding production lines.
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In August, Coca-Cola Hellenic bought a 94.7 percent stake in Coca-Cola Bottling Company of Egypt (CCBCE) for an agreed total combined purchase price of $427 million. Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world and is 23 percent owned by the U.S.’ Coca-Cola Company.
