Sri Lanka's Pure Beverages Changes Name

Shareholders of Sri Lanka's Pure Beverages Co. Ltd. on Tuesday approved a resolution to change the company's name to Coca-Cola Beverages Sri Lanka Ltd. Pure Beverages is Sri Lanka's bottler of The Coca-Cola Co. and is 89.8% owned by Singapore's Fraser & Neave (F&N), Coke's regional bottler.

"The change in name is merely to get in line with F&N's regional practice," Pure chairman Dhammika Fernando told an extraordinary meeting of shareholders. "The goodwill of the company remains," he said, adding that the name change would come into force from Wednesday after notifying the Registrar of Companies.

Some minority shareholders of the company have been up in arms, accusing F&N of "oppressive" strategies toward them. They have formed a group, fearing F&N will buy up the company's remaining shares and delist it.