Anheuser-Busch InBev has completed the sale of its majority equity stake in Coca-Cola Beverages Africa (Pty) Ltd (CCBA) for US$3.15 billion.

CCBA, the largest Coca-Cola bottler in Africa, was created in 2016 through the combination of the African non-alcohol ready-to-drink bottling interests of SABMiller plc, The Coca-Cola Company and Gutsche Family Investments. It covers businesses in South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte, and Comoros.

Anheuser-Busch InBev acquired the 54.5 percent stake when it bought rival SABMiller in 2016 for more than $100bn to create the world’s largest brewer. Its intention to sell the stake was announced in December 2016.

Following completion, CCBA will remain subject to the agreement reached with the South African Government and the South African Competition Authorities on several conditions, all of which were previously announced.

In addition, the companies continue to work towards finalizing the terms and conditions of the agreement for The Coca-Cola Company to acquire AB InBev’s interest in, or the bottling operations of, its businesses in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador, and Honduras. These transactions are subject to the relevant regulatory and shareholder approvals in the various jurisdictions.