ECCBC acquires Morocco-based Atlas Bottling from Diana Holding 

Equatorial Coca-Cola Bottling Company (“ECCBC”), a bottler of The Coca-Cola Company in North and West Africa, has reached an agreement, through its Moroccan subsidiaries, to acquire the bottler of Coca-Cola in the northern and eastern regions of Morocco, Atlas Bottling Company, with its majority shareholder Diana Holding and certain minority shareholders. 

This transaction is in line with Diana Holding’s strategy to reinforce its position in other agribusiness activities, reorganise its shareholder portfolio, and capitalise on its experience to further its position in the sectors of plastic packaging and distribution. The transaction is also part of Diana Holding’s plan to launch new investments and develop new strategies to align its assets, strengthen synergies between its subsidiaries and accelerate its growth, including in the rest of Africa. 

Asafo & Co. acted as exclusive legal advisor for Diana Holding, while Investment bank Ascent Capital Partners acted as exclusive financial advisor in this transaction. The advising team from Asafo & Co. was led by partner Patrick Larrivé (pictured) who was assisted by partner Mouna Boubia and associate Martin Van Box Som.  The investment bank, Ascent Capital Partners, acted as Diana Holding’s financial advisor. 

Latham & Watkins and Bennani & Associés acted as lead and local legal counsel, respectively for ECCBC. Rothschild & Co acted as exclusive financial advisor.

For further details on Latham & Watkins team advising on the transaction click here