Coca-Cola Hellenic gets shareholder backing for Nigerian Bottling Co buyout

Coca-Cola Hellenic gets shareholder backing for Nigerian Bottling Co buyout

Nigerian Bottling Co's shareholders have backed a EUR94m (US$136m) bid by Coca-Cola Hellenic Bottling Co to acquire all outstanding shares in the company.

A spokesperson for Greece-based Coca-Cola Hellenic confirmed to just-drinks today (26 July) that that Nigerian Bottling Co's shareholders have given their blessing to the deal.

Late last year, Coca-Cola Hellenic said that it planned to acquire the 33.6% of Nigerian Bottling Co that it does not already own.

"The proposed transaction will result in cost savings, reduce complexity and allow NBC to fully leverage the financial strength and resources of its parent company,” Coca-Cola Hellenic said at the time.