cocacola hbc ag said thursday that its subsidiary has agreed to acquire around 947 of cocacola bottling co of egypt sae for 427 million the ftse 100 cocacola bottler which is 23 owned by cocacola co said that it reached the agreement to acquire the bottling company from its major shareholders the cocacola co and mac beverages ltd along with certain other affiliates the company said that the transaction provides it access to the second largest nonalcoholic ready to drink market in africa by volume with nigeria and egypt accounting for around a quarter of the continents population cocacola hbc also said that the purchase will expand its exposure to highgrowth geographies with low single digit earnings per share accretion expected in the near term the company said that the transaction involves acquiring a majority stake of 527 in cocacola bottling from mac and related entities for a cash consideration of 304 million and a 42 stake in cocacola bottling from the cocacola co for around 123 million the acquisitions are expected to complete in the fourth quarter of 2021 to the beginning of 2022 shares in cocacola hbc at 0815 gmt were up 220 pence or 08 at 2740 pence