Pokka Corp is another step closer to a successful management buy out.

The Japanese soft drink producer said today that an investment fund had bought the required percentage of shares in a tender-offer bid for Pokka's management team to take control of the company.

The investment fund, Advantage Partners Inc, agreed to buy the shares Tuesday at Y690 each. It has built up a 95.64% share of Pokka's voting rights for Y23.56m.
 
The share purchase was part of the management buyout by Pokka's management, which should see the soft drink producer de-list later this year.