Coca-Cola European Partners plans to acquire Coca-Cola Amatil for $6.6bn
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.