Coca-Cola Enterprises has sent an official statement to the media clarifying their plans for expansion in Bulgaria which include opening a Finance Shared Service Center.

The Finance Shared Service Center is going to be located in the Serdika Center Sofia.

According to the media statement, the establishment of the new shared service center is the result of a decision to centralize and standardize its finance processes.

Coca-Cola Enterprises notes that the step aims to enable the company to deliver a more effective and efficient service to its customers.

The center will employ approximately 150 people and is to start functioning in early summer.

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

The statement comes on the heels of the of Wednesday morning announcement made by caretaker Economy and Energy Minister, Asen Vasilev, informing Coca-Cola was moving its entire back office for Europe to Bulgaria.

"These are all their accountants, legal counsel, the majority of the administration. Not for the Balkans or the region, but for Europe," the Minister explained in an interview for Nova TV.

According to Vasilev, there were two reasons for the decision – expert personnel and one of the best tax policies in Europe.