Coca-Cola Sets $450-Million E. German Deal
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DAVOS, Switzerland — Soft-drink giant Coca-Cola Co. has agreed to buy bottling and distribution plants in eastern Germany in a deal that will bring its total investment in the region to $450 million, a top executive said today.
“We believe this is the largest single investment announced for eastern Germany outside the automotive sector,” said Donald Keough, president and chief operating officer of the world’s biggest beverage company.
Keough said Coca-Cola signed an agreement in principle to buy the plants through Treuhandanstalt, the trust fund responsible for privatizing businesses in what was formerly East Germany.
He declined to say how much Coca-Cola will pay for the eastern German operations, located in 12 cities including Berlin, Dresden and Leipzig.
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