CCE and Coca-Cola confirm deal

CCE and Coca-Cola confirm deal

The Coca-Cola Co has signed an official agreement for Coca-Cola Enterprises (CCE) to acquire its bottling operations in Norway and Sweden.

Coca-Cola last month announced the acquisition of the North American operations of CCE, its largest bottler, in what the firms said was a “substantially cashless transaction”.

In a concurrent agreement, CCE agreed to buy Coca-Cola Co’s bottling operations in Norway and Sweden for $822m.

As a result, on 20 March, Bottling Holdings (Luxembourg), an indirect wholly-owned subsidiary of CCE, entered into an agreement with Coca-Cola to acquire the bottling operations in Norway (Coca-Cola Drikker) and Sweden (Coca-Cola Drycker Sverige).

Completion of the acquisition is subject to various conditions, including the absence of legal prohibitions and regulatory approval.

CCE is also expected to acquire Coca-Cola’s 83% equity stake in its German bottling operations 18 to 36 months after closing for fair value.