[Greece/Nigeria] Coca-Cola Hellenic Makes Move For Rest Of Nigeria Bottling Co

The Coca-Cola Hellenic Company has made a EUR94m offer for the shares of the Nigerian Bottling Company it does not already own. The Greece-based firm confirmed 14 December that Nigerian Bottling Company (NBC), which bottles Coca-Cola's products in Nigeria, is "Considering a transaction to become a wholly-owned subsidiary of Coca-Cola Hellenic." Should the board and shareholders approve the offer, the purchase is expected to complete at some point in Q2/2011. Coca-Cola Hellenic currently owns 66.4% of the total share capital of NBC. "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," Coca-Cola Hellenic said.