(Bloomberg) -- Coca-Cola Co. is planning to sell about 30% of its South African bottling unit to local non-White investors in a deal worth about 10 billion rand ($669 million), in line with an agreement with local regulators, according to people familiar with the matter.
The move helps the U.S. drinks giant comply with the governments empowerment policies that seek to redress the economic inequalities of apartheid, said the people, who asked not to be identified as the transaction hasnt been announced. The deal was a condition of Coca-Colas 2016 buyout of former partner SABMiller, now part of brewer Anheuser-Busch InBev, they said.
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