CCEP has made an offer to acquire 69.2% of the existing share capital of Coca-Cola Amatil held by independent shareholders; while setting out a proposal with The Coca-Cola Company to acquire TCCC's 30.8% interest in Amatil (19.5% of CCEP is owned by TCCC).
CCA said that once confirmatory due diligence is completed and other conditions are satisfied, including CCEP and TCCC reaching an agreement, then CCA intends to unanimously recommend the takeover to its independent shareholders.
The implied value shares are $9.28 billion. The takeover has the backing of Amatil's independent shareholders, the company said.
"The proposed transaction would create a broader and more balanced footprint for CCEP whilst nearly doubling CCEP's consumer reach, with the aim of ultimately driving sustainable and faster growth, through geographic diversification and scale", the bottler said.
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These were the details of the news Coca-Cola Amatil would be sold to Coca-Cola European Partners for $. for this day.
It's a sensible time to buy Coca-Cola Amatil from an earnings perspective, as drinks demand should benefit from an easing of Covid-19 restrictions in Australia, Mueller said.
The company has 32 production facilities and operates in Australia, New Zealand, Indonesia, Fiji, Papua New Guinea and Samoa.
Coca-Cola European Partners on Monday reported a 3% slump in third-quarter revenue to 3.18 billion euros ($3.76 billion), and declined to provide full-year financial guidance because of uncertainty over the pandemic.
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It would pay Coca-Cola A$9.57 a share in cash for 11 percent of the Australian company, and also work with Coca-Cola to buy its remaining 20 percent stake.
If the deal goes ahead, CCEP will nab a near-70 per cent stake in Amatil, with the remaining 30.8 per cent to still be held by the brand's worldwide parent, The Coca-Cola Company (TCCC).
Coca-Cola European Partners is the world's largest Coca-Cola bottler by revenue, with 48 production sites in Germany, Spain, the United Kingdom and elsewhere, according to its Web site.
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