5/30/2008

Coca-Cola Icecek of Turkey raises stake in Turkmenistan bottler

Bloomberg - Coca-Cola Icecek AS, the bottler of Coca-Cola beverages in Turkey, agreed to pay $2 million for a 12.5 percent stake in Turkmenistan Coca-Cola Bottlers Inc. Coca-Cola Icecek will buy the stake from Day Investments Ltd., which owns 25 percent of the Central Asian bottler, according to a filing with the Istanbul Stock Exchange late yesterday. Coca-Cola Icecek will hold 59.5 percent of the Turkmen company after the acquisition, it said. Istanbul-based Coca-Cola Icecek also said it has an option to buy Day's remaining 12.5 percent stake for $2.36 million after three years.

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