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Coca-Cola seeks regulatory OK to buy Lithuania's Neptuno Vandenys
BC, Vilnius, 22.01.2016.
Print version
Print versionCoca-Cola HBC Lietuva, a Lithuanian subsidiary of the global soft drinks giant Coca-Cola, has applied for approval from Lithuania's competition watchdog to purchase Neptuno Vandenys, one of the country's biggest mineral water producers with a 20% market share, from two private individuals, reports LETA/BNS.
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The Lithuanian Competition Council on Jan. 12 received Coca-Cola HBC Lietuva's application for clearance of its acquisition of 100% of shares in Neptuno Vandenys.
The deal, whose value is not being disclosed, was signed in late December. Coca-Cola expected to complete the acquisition of Neptuno Vandenys, which is based in the southern Lithuanian town of Varena, by late March.
Neptuno Vandenys Chairman Gintas Petrus then said that Coca-Cola would become a strategic investor and contribute to the company's further development.
Gintas Petrus owns a majority stake in Neptuno Vandenys and Milda Petrus holds the remaining 26.23% of shares.
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