Coca-Cola Hellenic Bottling Co. SA, the world's second-largest bottler of Coke drinks, is offering 94 million euros ($125.8 million) to take full control of the Nigerian Bottling Company plc (NBC).

Coca-Cola HBC, which has a 66.4 percent stake in NBC, is offering the other holders the money to cancel their shareholding in the Nigerian bottler, Athens-based Coca-Cola HBC said on Tuesday in an e-mailed statement.

If approved by NBC's other shareholders, the transaction will take place during the second quarter of 2011 and NBC would be delisted from the Nigerian Stock Exchange (NSE), according to the statement.

The proposed move will result in cost savings, reduce complexity and allow NBC to fully use the financial strength and resources of its parent, Coca-Cola HBC said.

The volume of cases shipped by Coca-Cola HBC rose 5 percent to 610.5 million euros in the third-quarter of 2010 reflecting "strong volume performance" in "key markets" such as Nigeria, the company said October 27.

NBC bottles alcohol free beverages. The company offers carbonated and non-carbonated soft drinks, fruit drinks and juices, bottled water, and energy drinks.

It bottles Coca-Cola, Fanta, Sprite, Schweppes, Eva Water, and Five Alive brand name products. The company was incorporated in 1951 and is based in Lagos, Nigeria. NBC operates as a subsidiary of Coca-Cola Hellenic Bottling Company S.A.