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The Coca-Cola Company has announced it will maintain its majority stake in Coca-Cola Beverages Africa (CCBA) for the foreseeable future. With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019 in accordance with U.S. accounting standards, the firm has confirmed. CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017.

The Coca-Cola Company has announced it will maintain its majority stake in Coca-Cola Beverages Africa (CCBA) for the foreseeable future.

With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019 in accordance with U.S. accounting standards, the firm has confirmed.

CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017.

Coca-Cola previously announced its intention to refranchise CCBA, which is the largest bottler of Coca-Cola beverages in Africa, serving 12 countries. The company has had discussions with a number of potential partners.

“Coca-Cola Beverages Africa is a very important part of the Coca-Cola system, and we see great opportunities to create even more value,” said Coca-Cola President and Chief Operating Officer Brian Smith.

“While we remain committed to the refranchising process, we believe it’s in the best interests …