By Jessica DiNapoli
NEW YORK (Reuters) – Coca-Cola HBC AG and its existing customers in Russia are “in the process of depleting stock,” Coca-Cola Co said in a statement.
Once the company’s stock is depleted, Coca-Cola HBC will “no longer produce or sell Coca-Cola or other brands of the Coca-Cola Company in Russia,” Coca-Cola said.
Atlanta-based Coca-Cola owns about 23% of Switzerland-based Coca-Cola HBC, according to Refinitiv’s Eikon. Coca-Cola HBC bottles and sells Coke beverages exclusively in its 29 markets, which includes Greece, Italy and countries in Eastern Europe, according to its website.
(Reporting by Jessica DiNapoli in New York)
