Sale of three bottling plants in India fetches Coca-Cola Rs 500 crore

As a part of the transition, Hindustan Coca-Cola Beverages divested three of its existing plants in the region - one each in Ghaziabad, Varanasi, and Jammu

Coca-Cola sold its three bottling plants in India for over Rs 500 crore ($73 million) in December, the beverages major informed the New York Stock Exchange on Thursday.

“During the three months and year-ended December 2019, the company recorded a net gain of $73 million on account of the refranchising of certain bottling operations in India,” it filed. 

During the corresponding quarter in 2018, it had gained $47 million by refranchising bottling operations in Latin America.

As a part of the transition, Hindustan Coca-Cola Beverages (HCCB) divested three of its existing plants in the region — one each in Ghaziabad,