Coca-Cola Icecek (CCI) is to acquire a 12.5% stake in Turkmenistan Coca-Cola Bottlers from Day Investment Ltd for US$2m, according to local press reports today (30 May).

The Turkey-based company has also approved the signing of a Memorandum of Understanding for the acquisition of certain assets, licenses and rights relating to Sandras Natural Source Water Company.

Terms of the Sandras transaction are subject to regulatory approval and valuations, CCI said.

Upon completion of the Turkmenistan deal, Coca-Cola Icecek is expected to increase its controlling stake in Turkmenistan Coca-Cola Bottlers to 59.5%.

The company purchased a 13.75% stake last year and will reportedly buy an additional 12.5% stake from Day Investment within the next three years.

Coca-Cola was unavailable for comment when contacted by just-drinks today.