EUR: CCE agrees deal to buy Coca-Cola Co bottlers
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.
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