Coca-Cola's main European subsidiary that is based in Athens on Thursday announced a voluntary share exchange to establish a listing on the London stock exchange and a potential inclusion on the FTSE 100.
Coca Cola Hellenic Bottling (CCHBC), one of the largest bottlers of non-alcoholic beverages in Europe, said it would swap shares with Swiss-based Coca-Cola HBC AG, a newly-formed company.
"The Coca-Cola Hellenic Board of Directors supports the voluntary share exchange offer of Coca-Cola HBC AG shares for Coca-Cola Hellenic shares," the company said in a statement.
"The proposed offer will facilitate a primary listing of the Coca-Cola Hellenic Group in the premium segment of the London Stock Exchange and its potential inclusion in the FTSE 100, under a new Swiss holding company," it said.
Under the deal, Coca-Cola HBC will acquire all of CCHBC's outstanding shares on a one-for-one basis.
CCHBC said the move would improve access to equity and debt capital markets and increase its flexibility in raising new funds.
It added that Coca-Cola HBC will apply for a parallel listing of its shares on the Athens stock exchange.
Businesses based in Greece have been adversely affected by the economic crisis and deepening recession gripping the country which even raised fears that it could be forced to leave the euro.
On Wednesday, the prominent dairy company Fage, a major exporter, said it was moving its headquarters to Luxembourg "to better reflect the increasingly global character of its activities."
CCHBC in August announced a 13-percent net profit drop to 127.8 million euros ($165.3 million) in the second quarter.
The company operates in 28 countries in Europe and Africa and employs a workforce of more than 41,000 people.