GREECE: Coca-Cola Hellenic announces structure change
Coca-Cola is proposing to change its corporate structure
Coca-Cola Hellenic Bottling Co has proposed changes to its internal corporate structure, which will see its operating assets and liabilities transferred to one of its subsidiaries.
The changes were approved by the Athens-based company's boards of directors yesterday (March 28) but are subject to both regulatory and by shareholder approval. The latter are expected to vote on the matter at the company's AGM in June.
The move is intended to bring a distinction between Coca-Cola Hellenic, which manages operations in 28 countries, and its domestic operations, which produces, distributes and sells Coca-Cola's products in Greece.
Last month, the company confirmed that it will close two of its Greek bottling plants to save costs in its crisis-hit home country.
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