Greek Coke bottler Coca-Cola Hellenic (CCH) has received approval from UK authorities to move its base from troubled Greece to tax-free Switzerland and have its premier listing moved from Athens to London Stock Exchange.

A CCH official who preferred not to be named due to the sensitivity of the matter said that the shift is highly important in order for the company to list on the London Stock Exchange as Greece continues to suffer from economic downturn.

The offer, which still seeks for approval from the U.S. Security and Exchange Commission and Greek Capital Market Commission, is expected to being later this month and end in April, the bottler said.

CCH, whose 23% stake is owned by the Coca-Cola Co. of the United States, produces Coke in 28 countries from Russia to Nigeria.