By WSJ Staff

Coca-Cola Co. (KO) has agreed to buy a 54.5% stake in Coca-Cola Beverages Africa from Anheuser-Busch InBev SA (BUD) for $3.15 billion, in a deal that is expected to close by the end of 2017.

Coca-Cola Beverages Africa includes operations in the countries of South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros.

On Wednesday, the companies said they have reached an agreement in principle for Coca-Cola to buy AB InBev's interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and Honduras for an undisclosed amount.

Coca-Cola said it plans to hold all of these interests temporarily until they can be refranchized to other partners.

(END) Dow Jones Newswires

December 21, 2016 01:33 ET (06:33 GMT)

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