If Coca Cola is depleting a shared resource, then there is an unpriced negative externality. The solution is for the government to transfer some of the gains from the new more efficient system to those worse off under the new equilibrium.

This can be accomplished by taxing the corporation for its use of the aquifers, and transferring the payments directly to those that lost use of their wells.

The end result is that everyone ends up with more wealth than they had under the old system.