Jubilant Bhartia Group said on Wednesday it will buy a 40% stake in Coca-Cola's largest bottler in India, as the Indian conglomerate plans to foray into the country's "high growth" beverage sector. The group,

MUMBAI: It’s bottling  a major partnership with  the famous Bhartia brothers  - Shyam and Hari.  Atlanta-based The Coca-Cola Co today announced that it has reached an agreement with the multibillion dollar,

Highlighting that it has entered into a definitive agreement for strategic investment, the Jubilant Bhartia Group has acquired a 40 per cent stake in Hindustan Coca-Cola Holdings, India (HCCH), through its entity Jubilant Beverages.

Coca-Cola has reached a deal with the Jubilant Bhartia Group to offload a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd for Rs 12,500 crore.

The Jubilant Group's Bhartia family is investing Rs 5,000 crore and the remaining amount is being financed by Goldman Sachs, which has pledged to fund a special purpose vehicle for the deal

The investment by the Jubilant Bhartia Group will contribute to the company’s ongoing success and help strengthen its position in the Indian market.

Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) under Jubila

Shyam S Bhartia, founder and chairman, and Hari S Bhartia, founder and co-chairman of the Jubilant Bhartia Group, said the investment is an ideal addition to their business

This move is part of the US-based soft drink maker’s global strategy of being asset-light, as it seeks to reduce its stakes in bottling operations worldwide.

Cola Co. has agreed to sell a 40% stake in its India bottling unit to the Jubilant Bhartia Group for an undisclosed amount as the beverage giant becomes the latest foreign firm to divest a part of its shareholding in its local arm.