TURKEY: Coca-Cola Içecek buys Pakistan stake

By | 29 September 2008

Coca-Cola Içecek (CCI) has signed an agreement to buy a 48.9% stake in Coca-Cola Beverages Pakistan for US$76.9m.

CCI will make the payment in cash, once the local legal procedures are finalised, the Turey-based group said last week.

Coca-Cola Beverages Pakistan (CCBPL) is majority-owned by The Coca-Cola Company's (TCCC) subsidiaries.

Following the share transfer, both CCI and Coca-Cola will own equal stakes in CCBPL.

CCI's net sales increased 18% to nearly YTL1.1bn (US$836.5m) in the first half of 2008.

Sectors: Soft drinks

Companies: Coca-Cola Içecek, The Coca-Cola Company

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