TURKEY: Coca-Cola Icecek to take bottler control in Eurasia
Coca-Cola Içecek has set up a raft of share purchases, which will see the company gain full control of three bottlers in Eurasia.
The Turkey-based bottler said late last week that it will buy the outstanding shares in Coca-Cola Almaty Bottlers, Coca-Cola Bishkek Bottlers and Azerbaijan Coca-Cola Bottlers from The Coca-Cola Export Corporation, a fully-owned subsidiary of The Coca-Cola Company. Including the purchase of just over 13% of Turkmenistan Coca-Cola Bottlers from the subsidiary, CCI said it will spend US$30.4m in total on the transactions.
Following the completion of the share purchases, CCI's share will account for 99.5% of Coca-Cola Almaty Bottlers, total control of Coca-Cola Bishkek Bottlers, 99.9% of Azerbaijan Coca-Cola Bottlers and 47% of Turkmenistan Coca-Cola Bottlers.
The announcement follows confirmation earlier last month that CCI is in talks with Coca-Cola to acquire an equity stake in Coca-Cola Beverages Pakistan, which is majority-owned by Coca-Cola.
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