Coca-Cola Co. (KO) confirmed that it has applied to Russia's antimonopoly agency to buy a 75% stake in Russian juice maker Nidan Soki from London-based private equity group Lion Capital.
The news was reported earlier by Russian daily the Kommersant daily.
Lion Capital bought the stake in Nidan Soki--Russia's fourth-largest juice maker with a 14% market share--three years ago for $500 million.
Lion Capital signed a letter of intent on March 12 with Coca-Cola to sell its stake.
-Anjali Cordeiro; Dow Jones Newswires; 212-416-2200; firstname.lastname@example.org
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