date:Feb 02, 2016
Coca-Cola Company has purchased 40% stake in Nigeria-based juice maker Chi, a subsidiary of Tropical General Investments Group (TGI Group), for $240m cash.
Through this agreement, the companies intend to create a strategic partnership in the African country to offer sparkling soft drinks, value-added dairy, juices, and water beverage brands in the region.
Coca-Cola intends to take complete ownership of Chi over the next three years, subject to regulatory approvals.
Meanwhile, the US-based dri