CCEP to takeover Coca-Cola Amatil

CCEP to takeover Coca-Cola Amatil

CCEP to takeover Coca-Cola Amatil

The week started with a possible agreement between Coca-Cola European Partners (CCEP) and its Australian peer, Coca-Cola Amatil.

CCEP announced today that was raising its initial offer by 6% per share, a boost which pushes the value of the Amatil at $7.70 billion. Amatil backs to offer, making it the largest Australian deal so far this year. After the deal was made public in October 2020, shares of Amatil gained steadily, even reaching an eight-year high.

According to experts, the deal will unite two companies that bottle and distribute Coca-Cola drinks while giving CCEP a platform to consolidate its position in Asia.

So far, CCEP revealed that would buy 10.8% of Coca-Cola’s stake in Amatil in cash, without addressing how it would purchase the rest.

Following the news, Coca-Cola Amatil stock price gained 2.13%

Stay updated with the latest financial news with CAPEX.com!

Sources: reuters.com, finance.yahoo.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.