Coca-Cola Co.'s Turkish arm has upped its stake in local bottler Efes Sinai Yatirim to over 87% following a mandatory cash call.

Coca-Cola Içecek took its interest in the bottler to 87.63% after the call ended on Monday (19 December).

Coca-Cola Içecek had already snapped up a majority stake in Efes Sinai Yatirim - or Efes Invest - in October. The deal was part of a restructuring at Efes Sinai Yatirim's parent Anadolu Efes, the leading brewer and soft drinks group in Turkey.

Anadolu Efes swapped its 51.8% stake in Efes Sinai Yatirim for shares in Coca-Cola Içecek, consequently raising its ownership in the Coke unit from 33% to 51.2%.

Coca-Cola Içecek now plans to list on the Istanbul Stock Exchange and merge fully with Efes Invest. The combined entity will become a regional Coca-Cola bottler operating in Turkey, Central Asia and the Middle East.