One of the top global non-alcoholic beverages makers, Coca Cola, will move its entire back office for Europe to Bulgaria, Bulgaria’s Economy and Energy Minister, Asen Vasilev, said on April 10.

“These are all their accountants, legal counsel, the majority of the administration. Not for the Balkans or the region, but for Europe,” Vasilev told Nova TV.

According to Vasilev, there were two reasons for the decision – expert personnel and favourable tax policies.

The company told BIRN that Coca-Cola Enterprises is opening a Finance Shared Service Center in the Serdika Center in Sofia.

Coca-Cola Enterprises produces, bottles and markets Coca-Cola products and has operations in Belgium, Great Britain, France, Monaco, Luxembourg, the Netherlands, Norway and Sweden.

“The establishment of the new shared service centre is the result of a decision to centralise and standardise our finance processes, which will enable us to deliver a more effective and efficient service to our customers,“ the company explained.

The centre will employ approximately 150 people, and the centre is expected to be open for operations by early summer.

Coca Cola celebrated 40 years on the Bulgarian market in 2005. The company’s representative office in Bulgaria was opened in 1992.

In Europe Coca Cola is reaching its consumers through several bottlers. The two largest are Coca Cola Hellenic, based in Athens, Greece, and Coca Cola Enterprises, based in London.