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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Coca-Cola Amatil Limited    CCL   AU000000CCL2

COCA-COLA AMATIL LIMITED

(CCL)
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Coca-Cola Amatil Advances Takeover Bid from European Bottler

11/03/2020 | 06:07pm EST

By Mike Cherney

SYDNEY--Australian bottler Coca-Cola Amatil Ltd. said it entered into a formal agreement for European bottler Coca-Cola European Partners PLC to acquire most shares in the company, and that shareholders will vote on the plan in early 2021.

The deal was announced last week, but Coca-Cola European Partners has completed the due diligence that was a condition of entry into the formal agreement, called a scheme implementation deed.

Investment funds, mom-and-pop investors and other so-called independent shareholders that own 69% of Coca-Cola Amatil will vote on the plan. The other 31% of Coca-Cola Amatil is owned by Atlanta-based Coca-Cola Co., which has concluded a separate agreement to sell its stake to Coca-Cola European Partners, a bottler of Coke products in Western Europe.

Coca-Cola Amatil said the deal could be complete by March or April next year. It said its directors had unanimously recommended the deal.

Coca-Cola Amatil shareholders are being offered A$12.75 per share to sell their stake. Coke agreed to sell its stake to Coca-Cola European Partners at roughly A$10 per share.

In recent years, Atlanta-based Coke has moved to reduce exposure to costly bottling operations and focus instead on its more lucrative concentrate-making business. A few years ago, it completed a raft of deals to transform its U.S. bottling business from a largely company owned system to one that is run by independent groups.

Write to Mike Cherney at mike.cherney@wsj.com

(END) Dow Jones Newswires

11-03-20 1806ET

Stocks mentioned in the article
ChangeLast1st jan.
COCA-COLA AMATIL LIMITED 0.93% 13.03 End-of-day quote.0.77%
COCA-COLA EUROPEAN PARTNERS PLC -1.76% 39.15 Real-time Quote.-0.76%
THE COCA-COLA COMPANY -0.94% 48.49 Delayed Quote.-10.74%
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Financials
Sales 2020 4 779 M 3 684 M 3 684 M
Net income 2020 238 M 183 M 183 M
Net Debt 2020 1 291 M 996 M 996 M
P/E ratio 2020 39,5x
Yield 2020 2,18%
Capitalization 9 434 M 7 280 M 7 272 M
EV / Sales 2020 2,24x
EV / Sales 2021 2,12x
Nbr of Employees 12 000
Free-Float 68,6%
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Technical analysis trends COCA-COLA AMATIL LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 12,56 AUD
Last Close Price 13,03 AUD
Spread / Highest target 0,84%
Spread / Average Target -3,64%
Spread / Lowest Target -16,7%
EPS Revisions
Managers and Directors
NameTitle
Alison Mary Watkins Group Managing Director & Executive Director
Ilana Rachel Atlas Chairman
Greg Barnes Chief Financial Officer
Debbie Nova Chief Information Officer
Krishnakumar Thirumalai Non-Executive Director
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