Coca-Cola Hellenic to buy Italy's Socib

ATHENS: Coca-Cola Hellenic Bottling Company SA said on Wednesday it has struck a deal to buy Italy's second largest Coke bottler, Socib S.p.A, for euro270 million (US$418 million).

CCHBC said the purchase would boost the volume of its operations in Italy by about 25 percent. A company statement said the deal was expected to have a ``negligible'' impact on its 2008 earnings.

CCHBC is one of the world's largest Coke bottlers and has operations in 28 countries.

The company said the deal was subject to regulatory approvals and was expected to be completed in the fourth quarter of 2008.