Anadolu Efes Sells Majority Stake in Anadolu Etap İçecek to CCI
Transaction Completes Successful Divestment Process
Istanbul, Turkey - January 12, 2023
Anadolu Efes Biracılık ve Malt Sanayii AŞ (Anadolu Efes), a leading beverage company in Turkey and one of the largest beer producers in the world, today announced the completion of the sale of 80% of the shares of its subsidiary, Anadolu Etap İçecek Sanayi ve Ticaret AŞ (Anadolu Etap İçecek), to Coca-Cola İçecek (CCI), a leading beverage company in Turkey and a bottler of The Coca-Cola Company.
The transaction, which was announced in July 2022, has received all necessary regulatory approvals and has now been completed. Anadolu Efes will retain a 20% stake in Anadolu Etap İçecek and will continue to consolidate its financial results.
The sale of the majority stake in Anadolu Etap İçecek is part of Anadolu Efes's strategy to focus on its core beer business and to optimize its portfolio of assets. The transaction will allow Anadolu Efes to reduce its debt and to invest in its core operations, including the expansion of its international beer business.
"We are pleased to have completed the sale of our majority stake in Anadolu Etap İçecek to CCI," said Tuncay Özilhan, CEO of Anadolu Efes. "This transaction is a significant milestone in our strategy to focus on our core beer business and to optimize our portfolio of assets. We believe that CCI is the ideal partner to take Anadolu Etap İçecek to the next level of growth and success."
"We are excited to add Anadolu Etap İçecek to our portfolio of businesses," said Burak Başarır, CEO of CCI. "Anadolu Etap İçecek is a leading player in the Turkish non-alcoholic beverage market, and we believe that there is significant potential for growth in this sector. We look forward to working with the Anadolu Etap İçecek team to capitalize on this opportunity and to create value for our shareholders."
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