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Wednesday, Mar 20, 2002

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Brindavan open to picking up stake in Coca-Cola

Ratna Bhushan

BAREILLY: BRINDAVAN Beverages is open to picking up stake in Coca-Cola India through the IPO route, Mr S.N. Ladhani, Managing Director, Brindavan Beverages, said.

"We will decide at the appropriate time, keeping in mind a number of issues including our own financial health,'' he said.

Mr Alex Von Behr, President and Chief Executive Officer, Coca-Cola India, declined to comment on the issue.

In December 2001, CCI had announced that it would offer its bottlers the option of picking up stake in the company, in the event of it opting for private placement of shares.

In October last year, CCI had asked the Government for a 5-year moratorium on mandatory disinvestment of 49 per cent stake on the ground that continuing losses in its eight-year stint had eroded its net worth significantly.

The request was declined, and as per guidelines, the company is slated to go public by August this year.

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