Coca-Cola is buying Lithuanian bottled water company Neptūno Vandenys.
© AP/Scanpix

The deal has to be approved by the Competition Council.

Gintas Petrulis, head of Neptūno Vandenys, has told DELFI that the parties will not comment on the details of the deal until it is greenlit by the competition watchdog.

"It [the deal] is not concluded yet and we are waiting for the permission of the Competition Council, therefore we cannot release any details about the length of the negotiations or about the value of the deal," Petrulis said.

He added that the Competition Council would give its decision within one to four months.

"We are very impressed by Neptūnas' achievements in the Lithuanian market and we are proud to add this brand to our portfolio of strong and promising brands. This investment is a proof of our long-term commitment to work in Lithuania's market of locally-made beverages," Valdas Pakštys, the Baltic regional trade head of Coca-Cola HBC, is quoted by vz.lt.

Brands owned by Coca-Cola in Lithuania include Bonaqua, Burbulinadas, Burn, Cappy, Coca-Cola, Fanta, Frisco, Monster, Nestea, Schweppes, Sprite.

Neptūno Vandenys produces bottled water.

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