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JAPAN: Coca-Cola Co ups stake in Japanese bottler

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The Coca-Cola Co is to acquire an additional 27.16% stake in Coca-Cola Central Japan Co (CCCJ) from Mitsubishi Corp.

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The share purchase, for an undisclosed sum, will be conducted through Coca-Cola's European Refreshments unit, the US soft drinks firm told just-drinks today (7 December). The additional stake in Japan's second largest Coca-Cola bottler will bring Coca-Cola's share in CCCJ to 32.16%.

Coca-Cola said it hopes to "further strengthen and align relations" with the bottler through the transaction.

"The intent is to further facilitate a collaborative relationship between Coca-Cola and CCCJ in order to continue to enhance the value of CCCJ for its shareholders and employees by implementing and accelerating strategic plans and activities related to CCCJ's business," Coca-Cola said in a statement.

Through the deal, Coca-Cola will have the right to nominate several board members and statutory auditors at and after the CCCJ's annual shareholders' meeting in March.

The transaction is expected to close this week.


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