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Coke Hellenic buy

This article was originally published in Foodnews

COCA-Cola Hellenic (CCH), the Athens-based Coke bottler, has received shareholder approval to buy out the Nigerian Bottling Company for USD136 million. CCH, which already owns 66.4% of the company, will delist it from the stock exchange on7 September. Nigeria accounted for nearly 17% of CCH's sales volumes last year, Reuters reported, adding that industry sources say it plans to invest about USD300 million in the unit to expand operations over the next two years to fight off competition from the likes of Pepsi.

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