Coca-Cola sells 40% stake of HCCBL to Jubilant Bhartia Group | Company Business News

American soft drink maker Coca-Cola sold 40 per cent of its stake in Hindustan Coca-Cola Holdings Pvt Ltd to the Jubilant Bhartia Group, reported the news agency PTI on Wednesday, December 11. 

Hindustan Coca-Cola Holdings Pvt Ltd is the parent company of Hindustan Coca-Cola Beverages Pvt Ltd, the largest bottling arm of the company in India.

“The Coca-Cola Company today announced that it has reached an agreement with Jubilant Bhartia Group, a multi-billion conglomerate with global presence in diverse sectors, to acquire 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd,” according to a joint statement cited by the news agency.

Disclaimer: The promoters of HT Media Ltd, which publishes Mint, and Jubilant Bhartia Group are closely related. There are, however, no promoter cross-holdings.