Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Coca-Cola Amatil Limited
  6. News
  7. Summary
    CCL   AU000000CCL2

COCA-COLA AMATIL LIMITED

(CCL)
SummaryChartsNewsRatingsCompany 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Coca Cola Amatil : Cola's European bottler sweetens takeover offer for Aussie peer Amatil

02/15/2021 | 04:12am EDT
FILE PHOTO: Bottles of Coca-Cola are pictured during a presentation in Paris

(Reuters) - The European bottling arm of Coca-Cola has sweetened its final, binding takeover offer for Australian counterpart Coca-Cola Amatil by 75 cents per share, reflecting a jump in the company's market value since an initial offer last year.

Coca-Cola European Partners (CCEP) said on Monday it was raising the offer by 6% to A$13.5 per share, valuing the Australian company at A$9.93 billion ($7.70 billion).

Shares in Coca-Cola Amatil, which have been gaining steadily since CCEP's initial offer was made public in October, hit an eight-year high of A$13.41 in response.

Coca-Cola has long outsourced its bottling operations to separate regional operators. It owns 31% of Amatil and 19% of CCEP, which is now by far the largest by revenue, serving 13 countries in Western Europe. While the deal would unite two companies that bottle and distribute Coca-Cola drinks, providing scale, operating efficiencies and a larger geographic spread, it also provides CCEP with a platform for further consolidation in Asia.

Amatil said it backs the offer, which would be Australia's biggest deal this year and comes after reports https://www.afr.com/companies/manufacturing/coca-cola-amatil-takeover-delayed-as-investors-call-for-higher-bid-20210125-p56wqp that its major shareholders viewed the earlier offer of A$12.75 per share as too low.

The company's preliminary full-year results in January forecast 2020 earnings before interest and taxes of A$550.7 million, 10% ahead of expectations, while also slashing debt, on the back of a strong Christmas in Australia and New Zealand.

Monday's offer is subject to an independent expert concluding that the offer is "fair and reasonable", but Jefferies analysts said CCEP was likely to seal the deal.

"We do not see a superior proposal emerging given the integrated nature of the franchise system," the brokerage's analyst Edward Mundy said.

CCEP said it would buy out 10.8% of Coca-Cola's stake in Amatil in cash, but has not yet made any decision on acquiring the rest.

(Reporting by Siddharth Cavale and Nikhil Kurian Nainan in Bengaluru; Editing by Daniel Wallis, Diane Craft and Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.30% 0.7364 Delayed Quote.-4.60%
All news about COCA-COLA AMATIL LIMITED
05/10Coca-Cola Amatil Limited Changes to Board of Directors
CI
05/10Coca-Cola Amatil Limited Announces Board Changes
CI
05/10Coca-Cola European Partners plc completed the acquisition of 69.19% stake in ..
CI
05/10Coca-Cola European Partners plc completed the acquisition of 30.81% stake in ..
CI
04/29AMPOL : New CFO Joins From Coca-Cola Amatil
MT
04/26Coca-Cola Amatil Limited Reports Audited Consolidated Earnings Results for th..
CI
04/22COCA-COLA AMATIL LIMITED(ASX : CCL) dropped from FTSE All-World Index
CI
04/22COCA-COLA AMATIL LIMITED(ASX : CCL) dropped from S&P Global BMI Index
CI
04/22COCA-COLA AMATIL LIMITED(ASX : CCL) dropped from S&P/ASX 200 Index
CI
04/22COCA-COLA AMATIL LIMITED(ASX : CCL) dropped from S&P/ASX 100 Index
CI
More news
Chart COCA-COLA AMATIL LIMITED
Duration : Period :
Coca-Cola Amatil Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Managers and Directors
Alison Mary Watkins Group Managing Director & Executive Director
Ilana Rachel Atlas Chairman
Debbie Nova Chief Information Officer
Massimo John Borghetti Independent Non-Executive Director
Mark Graham Johnson Independent Non-Executive Director