Coca-Cola European Agrees to Buy CC Amatil for $6.6 Billion

Bottles of Coca-Cola Co. soft drinks are displayed for sale at a store in Louisville, Kentucky, U.S., on Monday, Feb. 10, 2020. Coca-Cola rose after reporting better-than-expected revenue growth for the fourth quarter, citing rising demand overseas and higher demand for its low-sugar offerings in the U.S. Photographer: Luke Sharrett/Bloomberg , Bloomberg

Harry Brumpton, Bloomberg News

Oct 25, 2020

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(Bloomberg) -- Coca-Cola European Partners Plc. agreed to buy Australian bottler Coca-Cola Amatil Ltd. on Monday, creating a global producer of many of the world’s most popular packaged drinks worth more than $24 billion.

The deal values Sydney-based Coca-Cola Amatil at A$9.23 billion ($6.6 billion), a 19% premium to where its shares last traded.

Coca-Cola European Partners offered A$12.75 cash per share, in a deal that will give it an even larger international footprint and immediate scale in the Southern hemisphere.

Coca-Cola Amatil’s board said in a statement it intends to unanimously recommend the offer.

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