29 May 2008 - Coca-Cola Icecek (CCI), the Turkish unit of the Coca-Cola Company, has signed an agreement to acquire a 12.5% stake in Turkmenistan Coca-Cola Bottlers from Day Investment Ltd for a total consideration of USD 2 million.
CCI currently has a 47.05% share in Turkmenistan Coca-Cola Bottlers. Further to the deal, it will increase to 59.5%, CCI said in a statement.
In December 2007, FLEXNEWS reported that CCI would acquire outstanding shares owned by the Coca-Cola Export Corporation, a fully owned subsidiary of the Coca-Cola Company, in its affiliates in Kazakhstan, Kyrgyzstan, Azerbaijan and the majority of its shares in its affiliate in Turkmenistan.
CCI said it would purchase the following stakes for a total USD 30.4 million:
• 12.04% of Coca-Cola Almaty Bottlers
• 10% of Coca-Cola Bishkek Bottlers Closed Joint Stock Company
• 9.96% of Azerbaijan Coca-Cola Bottlers Limited
• 13.75% of Turkmenistan Coca-Cola Bottlers Limited