ECONOMY

CCHBC agrees to buy Lithuanian water bottler

cchbc-agrees-to-buy-lithuanian-water-bottler

Athens-listed Coca-Cola HBC, one of the world’s biggest Coke bottlers, announced to Lithuanian media on Tuesday that it had signed a preliminary agreement for the acquisition of Lithuanian bottled water company Neptuno Vandenys at the start of the week.

Local media reported that no details were released about the price of the transaction as the negotiations are still ongoing.

The agreement, which must be cleared by Lithuania’s competition commission, is expected to be completed in the first quarter of 2016.

Neptuno Vandenys controls 20 percent of the Lithuanian bottled water market.