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Coca-Cola to Buy 10% Stake in Green Mountain Coffee

Coca-Cola Co. agreed to buy a 10 percent stake in Green Mountain Coffee Roasters Inc. for about $1.25 billion and work with the maker of Keurig coffee brewers to introduce a system for producing single-serve cold drinks.

Coca-Cola is buying the 16.7 million newly issued shares for about $74.98 apiece, the companies said yesterday in a statement. Green Mountain shares surged 29 percent to $103.97 at 10:51 a.m. in New York and earlier advanced as much as 37 percent for the biggest intraday gain since March 2011.