TURKEY: Coke Icecek to acquire Efes subsidiary
Coca-Cola Içecek (CCI) is to buy a majority shareholding in Efes Sinai Yatirim Holding (Efes Invest) from CCI's largest shareholder Anadolu Efes, the companies said in a statement.
As part of the transaction, Anadolu Efes will increase its holding in CCI, through a capital increase, to close to 51.2%. It currently holds a 45.6% stake.
The statement said it is the intention of CCI is to list on the Istanbul Stock Exchange following the acquisition and mandatory cash call to the minority shareholders, and thereafter to fully merge CCI with Efes Invest.
The acquisition is subject to the approval of regulatory bodies.
Once the acquisition is complete, CCI's Coca-Cola bottling operations will reach from Turkey to Kazakhstan, Kyrgyzstan and Azerbaijan.
The combined entity will also be the largest shareholder of the Coca-Cola bottler in Turkmenistan.
The statement also said the company will hold the bottling rights for Kajikistan and will have the option to become the Coca Cola bottler in Iraq.
Sectors: Soft drinks
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