New Delhi: US cola giant Coke on August 16 announced divestment of 49 per cent stake in wholly-owned subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd, in favour of bottlers, employees and public, a day ahead of the August 17 deadline set by the government.

While 39 per cent stake would be divested to private investors and bottlers, another 10 per cent would be offered to the company's employees in India, Coca-Cola India said in a statement here.

It said ICICI Securities and ABN Amro Corporate Finance will advise it on the divestment and in identifying potential investors while law firm Amarchand Mangaldas has been retained as legal advisors to the issue.

PTI