Coca-Cola to provide nearly $15 million in financial assistance to Ukraine

Coca-Cola Co. (SPB: KO), the worldchr("39")s biggest producer of non-alcohol drinks, as well as The Coca-Cola Foundation and its bottling partners, will provide assistance to Ukraine in the total amount of nearly $15 million.

As reports Olaylar via the statement of company, that the funding will support further relief efforts by the Red Cross and other organizations operating in Ukraine.

Moreover, the company has activated relief funds to provide urgent financial assistance to all Ukraine-based system employees.

On March 8, Coca-Cola declared the suspension of its activity in Russia in response to Moscowchr("39")s military actions in Ukraine. This measure will reduce the corporationchr("39")s net revenue and operating profit for the year by 1-2% and reduce earnings per share by about $0.04 per security.