Coca-Cola to sell shares in Indian subsidary

NEW DELHI, INDIA - The Indian arm of Coca-Cola Company says it plans to sell 49 percent of its equity in its wholly owned Indian subsidiary.

Coca-Cola India announced Friday that it will sell up to 39 percent of its stake in Hindustan Coca-Cola Holdings to private investors and business partners including bottlers and suppliers, a company statement said.

The remaining 10 percent will be sold to welfare and stock option trusts of Indian employees.

Hindustan Coca-Cola Holdings owns and operates 26 plants and 60 distribution centers across India. Coca-Cola employs more than seven thousand people in India.

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