Thursday, October 11, 2012

Greece's Biggest Comp., Coca-Cola to Relocate

http://www.businessinsider.com/coca-cola-is-about-to-leave-greece-2012-10

Greece's biggest company, Coca-Cola Hellenic, is pulling out of the near-bankrupt country and seeking refuge by listing on the London stock exchange.

The €5.7bn (£4.6bn) company, which bottles Coke in 28 countries from Russia to Nigeria, said it would move its headquarters to Switzerland and hopes to list its shares on the FTSE 100 in London.

Coca-Cola Hellenic, which makes up a fifth of the Greek stock market, said it was ditching Greece after credit rating agencies downgraded the company's rating following the country's downgrade deeper into "junk" status.

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