* CCHBC to return 1.50 euro per share to shareholders
* Record date to be announced in due course
* EGM to be held Oct 16
(Adds CEO comment)
ATHENS, Sept 18 (Reuters) - Greek Coca-Cola Hellenic Bottling (CCH) said on Friday it planned a recapitalisation which will result in a capital return of about 548 million euros ($ 806 million) or 1.50 euro per share to shareholders.
It said the record date for the transaction will be announced in due course.
"Given the company's strong cash generation and positive view of its free cash flow over the medium term, a capital return is the most appropriate way to return cash to shareholders in the current environment," said Chief Executive Doros Constantinou in a statement.
CCH, the world's second largest bottler of Coke drinks, said the recapitalisation would be financed through a combination of accumulated cash and new debt.
CCH's board endorsed the plan, the company said, citing favourable conditions in the debt capital markets and the potential to reduce the group's WACC (weighted average cost of capital) by improving capital structure.
An extraordinary shareholders meeting will take place Oct. 16 to approve the increase in the par value of the shares by an amount of about 548 million via a capitalisation of reserves. (Reporting by George Georgiopoulos; Editing by Jon Loades-Carter)