Coca-Cola Japan buys stake in bottler |
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Tue, 26 Jun 2007 15:34
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NEW YORK (AP) - Coca-Cola Co. said Tuesday its Japanese subsidiary, Coca-Cola Japan Co., agreed to buy a 34 percent stake in the Tokyo Coca-Cola Bottling Co. Ltd.The purchase will be made through newly issued shares, the company said. No other financial terms were disclosed.Under the terms of the agreement, Coca-Cola Japan will help the Tokyo-based bottler appoint a new president and one-third of its board of directors.Keiji Takanashi, currently president of the bottling company, will become chairman, chief executive and representative director at the bottler.Coca-Cola shares rose 9 cents to $51.86 in morning trading.------------Questions or comments about this story should be directed to AP Financial News at 212-621-7190.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Coca-Cola unit to acquire 34 pct of Tokyo Coca-Cola Bottling 