Coca-Cola In Talks To Buy Russian Juice Company (KO, PEP)
Coca-Cola Co. (NYSE: KO) is looking to acquire a major stake in Nidon Soki, a Russian fruit juice company. Nidon Soki is the fourth largest juice company in Russia. Coke (KO) has submitted an application to the Russian anti-monopoly agency for approval. The soft-drink giant is planning to buy a 75% stake in the company. Currently these shares are held by a private equity company, Lion Capital.
Lion Capital had bought the stake in Nidon Soki for $500 million. The private equity group agreed to sell the stake to Coke on March 12. However, Coke has refused to disclose the monetary value of the deal. Coke has been facing stiff competition from Pepsi (NYSE: PEP) in the Russian market. Nidon Soki holds 14% market share in the juice segment.
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