Athens, Greece – 14 December 2010 - Coca‑Cola Hellenic Bottling Company S.A. (the "Company, "Coca‑Cola Hellenic") announced that the Board of Directors of Nigerian Bottling Company plc ("NBC") is considering a Scheme of Arrangement (the "Transaction") between NBC and its shareholders.
The proposed Transaction involves the cancellation of part of the share capital of NBC, such that it would become a wholly-owned subsidiary of its majority shareholder, Coca‑Cola Hellenic. Coca‑Cola Hellenic currently owns 66.4% of the total share capital of NBC.
The terms of the Transaction are subject to final approval by the Board of Directors of NBC and the approval by a general meeting of shareholders of NBC. If approved, the Transaction is expected to be completed during the second quarter of 2011, at which time NBC would also be de-listed from the Nigerian Stock Exchange.
The value of the proposed Transaction is approximately EUR 94 million. The proposed Transaction will result in cost savings, reduce complexity and allow NBC to fully leverage the financial strength and resources of its parent company.
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About Coca‑Cola Hellenic
Coca‑Cola Hellenic is one of the world's largest bottlers of products of The Coca‑Cola Company with sales of more than 2 billion unit cases. It has broad geographic reach with operations in 28 countries serving a population of approximately 560 million people. Coca‑Cola Hellenic offers a diverse range of ready-to-drink non-alcoholic beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca‑Cola Hellenic is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting our business in ways that protect and preserve the environment and contribute to the socio-economic development of our local communities.
Coca‑Cola Hellenic‘s shares are listed on the Athens Exchange (ATHEX: EEEK), with a secondary listing on the London Stock Exchange (LSE: CCB). Coca‑Cola Hellenic’s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE: CCH). Coca‑Cola Hellenic is included in the Dow Jones Sustainability and FTSE4Good Indexes. For more information, please visit www.coca-colahellenic.com