Coca-Cola HBC Sells 50% Stake in Neptunas to The Coca-Cola Company
September 16 2016 - 9:36AM
Dow Jones News
LONDON--Coca-Cola HBC AG (CCH.LN) Friday announced the sale of a
50% stake in Nept no Vandenys, UAB (Neptunas) to The Coca-Cola
Company for 10 million euros ($11.2 million).
In December 2015, the European Coca-Cola products bottler and
vendor, signed an agreement for the acquisition of Neptunas, a
bottled water company in Lithuania.
Coca-Cola HBC said Friday that, following the completion of the
acquisition of Neptunas, by its subsidiary UAB Coca-Cola HBC
Lietuva (CCHBC Lithuania), CCHBC Lithuania has entered into a
binding agreement for the sale of 50% of Neptunas' share capital to
The Coca-Cola Company.
The deal is subject to customary closing conditions and
regulatory approvals and is expected to complete in the fourth
quarter of 2016.
Coca-Cola HBC said the transaction has been entered into with
European Refreshments which is a subsidiary of The Coca-Cola
Company a substantial shareholder of the company.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
September 16, 2016 09:21 ET (13:21 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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