Coca-Cola European Partners (CCEP) has made an AUD9.28 billion ($6.6 billion) bid to acquire 100% of Australia-based Coca-Cola Amatil Limited (CCL).

In this regard, Coca-Cola European Partners has issued a non-binding offer to acquire 69.2% of stake in the Australian bottler, which is held by shareholders other than The Coca-Cola Company. The stake from the independent shareholders will be effected through a scheme of arrangement, said Coca-Cola European Partners.

Coca-Cola Amatil’s independent shareholders will get AUD12.75 per share in cash by the British multinational bottling company as per the terms of the offer.

Coca-Cola European Partners has also signed a non-binding heads of terms and cooperation letter with The Coca-Cola Company, for acquiring its 30.8% stake in Coca-Cola Amatil. The transaction will be subject to regulatory approvals in Australia and the implementation of the scheme of arrangement.

Coca-Cola will be paid AUD9.57 per share in cash for a 10.8% stake in the Australian bottler. The British bottler will work with Coca-Cola to buy out the latter’s remaining 20% stake through a stock-exchange deal.

Coca-Cola European Partners stated: “The proposed transaction would create a broader and more balanced footprint for CCEP whilst almost doubling CCEP’s consumer reach, with the aim of ultimately driving sustainable and faster growth, through geographic diversification and scale.”

Coca-Cola Amatil operates across six countries – Australia, Indonesia, New Zealand, Fiji, Papua New Guinea, and Samoa. The bottler has 32 production facilities, more than 160 brands, and 43 warehouse facilities, while employing nearly 12,000 employees.

  Australia, Coca Cola, Coca-Cola Amatil Limited, Coca-Cola European Partners, Drinks acquisition news