Coca Cola Amatil : 26 October 2020 CCEP Indicative Proposal and Amatil Trading Update Discover more
10/26/2020 | 04:05am EST
Coca-Cola Amatil Limited (Amatil, theCompanyor theGroup) advises that it has received a non-binding indicative proposal (the Proposal) from Coca-Cola European Partners plc (CCEP) for the acquisition of all of the issued shares held by independent shareholders of Amatil (theIndependent Shareholders) pursuant to a Scheme of Arrangement (Scheme) and the separate acquisition of Amatil shares held indirectly by The Coca-Cola Company (TCCC), which together comprises all of the issued share capital of Amatil (together, theProposed Transaction).
The Company has today also provided a trading update to the market and will no longer provide an update on 2 November 2020 as previously anticipated.
Amatil Group Managing Director Alison Watkins said, "It is pleasing to report that we are seeing earnings momentum return in markets where COVID-19 trading restrictions have eased, including continued recovery in "On-the-Go" (OTG) channels. This has particularly been the case in Western Australia and New Zealand which have both delivered growth in 3Q20, providing insight on the expected shape of the recovery that can be expected in other markets most notably in other Australian States where restrictions have been slower to ease."
CCA - Coca-Cola Amatil Ltd. published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 09:04:04 UTC