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Coca-Cola European Partners relaunches on Amatil

Increases the offer to 13.5 AUD per share

Coca Cola European Partners, one of the world's leading bottlers of the well-known carbonated soft drink, has raised its takeover bid for Australian counterpart Coca Cola Amatil following the improved market outlook of Australia and New Zealand (see EFA article News of 30/10/2020 ). Ccep will now offer 13.5 Australian dollars (10.48 usd) per share for each share held by the independent shareholders of Amatil, an increase from the 12.75 aud offered last year. The separate agreement regarding the purchase of Amatil shares from the US-based company remains unchanged.

The new offer gives Amatil a value of approximately 9.8 billion Australian dollars and represents an increase of 5.9% compared to the initial price. According to Amatil, the new price constitutes a 30% premium over the average price calculated over a volume weighted week as of October 22, the last trading day before the announcement of the proposal.

Ccep has just presented its 2020 results. Total revenues amounted to 10.6 billion euros, down 11.5% compared to 2019. Net profit was 498 million, with a drop of 54 , 5% compared to 2019.

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EFA News - European Food Agency