Coca-Cola HBC $2.6bn acquisition clears South African antitrust hurdle

Coca-Cola Hellenic Bottling Company (HBC) has secured a critical regulatory green light for its $2.6 billion acquisition of Coca-Cola Beverages Africa (CCBA), with South Africa’s Competition Commission recommending approval subject to specific conditions.

The regulator’s decision removes a major obstacle to the deal, which includes a requirement for HBC to pursue a secondary listing on the Johannesburg Stock Exchange (JSE).

This move is designed to deepen local investor access and align with South Africa’s broader economic participation goals.

The clearance marks a significant step forward for the London-listed bottler, which has been working to consolidate its African operations.

The deal’s structure, including the JSE listing condition, reflects the strategic importance of the South African market to HBC’s long-term growth trajectory.

While the Competition Commission’s recommendation is a strong positive signal, the transaction still requires final approval from the Competition Tribunal.