AUS: Coca-Cola Amatil in talks to buy Golden Circle
Coca-Cola Amatil is in discussions to take over the fruit processor Golden Circle after making a conditional offer.
CCA said today (26 September) that it has "made a conditional offer to acquire 100% of the issued shares in GCL".
The sale is subject to a number of conditions and regulatory approvals from the Australian Competition and Consumer Commission, as well as gaining unanimous support from all of GCL's directors, the company said.
"While negotiations are continuing, no agreement has been reached between the parties and there is no certainty that the offer made by CCA will be accepted," the group added.
Last month, CCA reported that net profit after tax and before exceptional items reached A$160.9m (US$137.6m), an increase of 10.7% over the first half of 2006. EBIT growth before significant items also set a record, increasing by $33.3m or 13.3% to $284.5m.
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