ISRAEL: Coke Israel takes control of water group
The Central Bottling Company (Coca-Cola Israel) has taken control of the mineral water company Neviot for US$11.6 m, the local press reported.
Coca-Cola Israel is being sold 44.52% of the issued shares of the company by the Podhorzer family. Coke Israel already owns 34.06% of Neviot, making its total stake 78.58%.
On top of the US$11.6 m the Coca-Cola Israel will pay for the shares, it will also pay the Podhorzer family 2.3% of Neviot's sales turnover in the years 2005-2007, up to US$2.5 m.
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