Key facts
- Coca-Cola HBC said it had taken note of recent speculation about its Russian operations.
- Kommersant, citing sources, said Bochkari asked Putin in October to place Multon assets under external management.
- Kommersant said the Bochkari proposal gained partial backing from some deputy prime ministers.
- Coca-Cola HBC said it does not rely on income or capital from its Russian business to fund operations outside Russia or service debt.
- Coca-Cola HBC bottles and sells Coca-Cola products in 28 markets and is 21% owned by The Coca-Cola Company, per its website.
- Putin signed a decree on November 5 to temporarily seize the Russian assets of Japan Tobacco International.
Coca-Cola HBC, the bottling partner for Coca-Cola in Central and Eastern Europe and Africa, said on November 5 that it had not received any notification from Russia of changes to its operations in the country. In a statement, the company said it had taken note of recent speculation about its Russian operations, which it said have run locally on a self-standing basis since 2022.
The statement followed a report by the Russian newspaper Kommersant, which cited sources saying that Bochkari, a Russian beer and soft drink maker, asked President Vladimir Putin in October to place the assets of Multon Partners LLC and Multon JSC under external management. Kommersant said that according to the SPARK corporate database, Switzerland-based Coca-Cola HBC is the parent company of Multon Partners LLC, and that shareholders of Multon JSC were not disclosed.
Kommersant also said Bochkari asked to be appointed as temporary administrator and that the proposal had gained the partial backing of some deputy prime ministers. Coca-Cola HBC said 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.
The bottler says on its website that it bottles and sells Coca-Cola products in 28 markets and is 21% owned by The Coca-Cola Company. Separately, Putin signed a decree on November 5 to temporarily seize the Russian assets of Japan Tobacco International, making it the latest foreign company to lose control of local operations after Russia's 2022 invasion of Ukraine, Reuters reported.