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Shrewd investment

This article was originally published in Foodnews

SUNTRUST Banks Inc has sold the stake in Coca-Cola Co that it acquired in 1919. The bank has been affected by toxic mortgage loans and the general effects of the credit crunch. A SunTrust predecessor bank, Trust Company of Georgia, took stock then valued at USD100 000 instead of cash when helping Coke with its initial public offering when the firm went public in 1919. The lender also kept a copy of the original formula for Coca-Cola in a vault until December 2012. That IPO stake is now valued at USD2.0 billion. Adjusted for inflation, the original USD100 000 stake would now be worth USD1.3 billion.

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