GREECE: CCHBC snaps up 70% of Lanitis
Coca-Cola Hellenic Bottling Company has acquired a 70% stake in Cypriot bottler and drinks company Lanitis Bros.
The Greek company confirmed yesterday (20 February) that just over 175m shares have been tendered in response to the public offer launched by CCHBC's subsidiary 3E (Cyprus) on 27 January.
The acceptance period of the public offer is set to expire on 10 March.
Earlier this month, CCHBC said that it had offered CYP0.172 (US$0.36) in cash per Lanitis share in a deal valued at around EUR75m (US$91m).
Lanitis owns the Coca-Cola bottling franchise in Cyprus and produces a range of fruit juices and dairy products.
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