Dec. 14 (Bloomberg) -- Coca-Cola Co. will acquire 50 percent of the equity in the beverage business of Saudi Arabia- based Aujan Industries in what the companies described as a $980 million transaction.
The purchase will give Coca-Cola a stake in one of the Middle East’s leading soft drinks businesses and provide Aujan with a platform to accelerate the international growth of brands including Rani and Barbican, the companies said today in a Business Wire statement.
Aujan is one of the 100 biggest companies in Saudi Arabia with annual revenue exceeding $850 million, according to the statement.
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