Coca-Cola $240 million acquisition of a 40% stake in Chi

Overview:

• The Coca-Cola Company completed the acquisition of a 40% minority stake in Chi Ltd, Nigeria’s leading dairy and juice company, from Tropical General Investments Group (TGI Group. 
• The value of the acquisition is thought to be around $240 million. 
• The deal ensures that the companies will enter into a strategic partnership, as Coca-Cola looks to expand its influence on the African markets, and ends a rivalry between Coke's Five Alive and similar Nigerian products.
• The group intends to expand its ownership to 100% over three years. 

John Crabb - Journalist