UPDATE 1-Bottler Coca-Cola HBC mulls other options for Russian business [Reuters]
COCA COLA HBC UNSP/ADR (CCHGY)
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Source: Reuters
UPDATE 1-Bottler Coca-Cola HBC mulls other options for Russian business By Reuters Staff 2 Min Read (Adds details, context and background) May 12 (Reuters) - Soft drinks bottler Coca-Cola HBC AG said on Thursday it will evaluate all options for its Russian operations and have a smaller presence in the country, focussing on local brands, after U.S. beverage giant Coca-Cola suspended operations there. The bottler, which counted Russia as one of its biggest markets, said it was still in the process of implementing the decision by Coca-Cola. Hundreds of Western companies have either withdrawn or suspended operations in Russia since the country invaded Ukraine in February while Western governments have imposed sanctions. HBC is one of Coca-Cola’s many bottlers worldwide and holds local Coca-Cola franchises to bottle and sell drinks produced by the beverage giant. Coca-Cola holds a roughly 21% stake in HBC. The company, whose annual outlook remains withdrawn, said it has stopped placing or
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