Bottler Coca-Cola HBC says no notification from Russia on asset changes

Coca-Cola HBC Says Russia Has Not Notified on Any Changes to Its Assets

Main Developments Regarding Coca-Cola HBC's Russian Operations

Official Statement from Coca-Cola HBC

Nov 6 (Reuters) - Bottler Coca-Cola HBC, the bottling partner for Coca-Cola in Central and Eastern Europe and Africa, said on Thursday it had not received any notification from Russia of any changes to its operations in the country.

• It said in a statement it had taken note of recent speculation about its Russian operations. Those operations have been running locally on a self-standing basis since 2022, it added

Speculation and Media Reports

Kommersant Newspaper Claims

• The Russian Kommersant newspaper, citing sources, said earlier on Thursday that Bochkari, a Russian beer and soft drink maker, last month asked President Vladimir Putin to place the assets of Multon Partners LLC and Multon JSC under external management

Ownership Structure

• It said that according to the SPARK corporate database, Switzerland-based Coca-Cola HBC is the parent company for Multon Partners LLC. Shareholders of Multon JSC were not disclosed, it said

Request for Temporary Administration

• Kommersant said Bochkari had asked to be appointed as the temporary administrator and that the proposal had gained "the partial backing" of some deputy prime ministers

Coca-Cola HBC's Business Independence

• Coca-Cola HBC said in its statement that it does not rely on income or capital from its Russian business to fund the group's operations outside Russia or to service its debt

• Coca-Cola HBC bottles and sells Coca-Cola products in 28 markets and is 21% owned by The Coca-Cola Company, according to the bottler's website

Context: Foreign Companies in Russia

• On Thursday, Putin signed a decree to temporarily seize the Russian assets of Japan Tobacco International, making it the latest foreign company to lose control of local operations in a widening crackdown following Russia's 2022 invasion of Ukraine

(Reporting by Jekaterīna Golubkova in Tokyo; Editing by Edwina Gibbs)