PHILIPPINES: San Miguel wants Coca-Cola back
Its interest follows a fall of about 30% in CCA's share price in the past two months. The current trading price of about $A3.10 is a seven-year low and about $5 down on the price 12 months ago.
The inquiries also follow a 10% slump consumption of Coca-Cola in the Philippines in 1999, a slump which CCA says is due to a general downturn in consumer confidence.
A CCA spokesman said that "no proposal has been put to us". He said that CCA was forecasting an eventual return to sales growth in the Philippines, which had been 33% two years ago.
With that expectation, it had announced last December a review and re-
structuring of all its Philippines' operations, including distribution and packaging.
The market was a major one for CCA, making up about 40% of its total sales of one billion cases. There were 20 plants in operation though two in Manila have been closed as part of the re-structuring. San Miguel called off a global offering of its CCA stock last September when CCA's shares fell to $A5.30.
Coca-Cola Amatil produced decent first-half results but speculation that it may sell some of its international operations and its determination to look beyond the core soft drinks sectors for growth i...
Coca-Cola Amatil said yesterday (10 August) that it has agreed to purchase the business and assets of the Grinders Coffee Group (Grinders)....
Following a review of its operations, Coca-Cola Amatil has announced its intention to restructure its Asian business activities through the creation of an Asian Beverage Division (CCA Asia)....
Coca-Cola Amatil (CCA) has seen its net profits increase 16.8% to A$145.2m in its first half, driven in part by growth of non-carbs and innovation, the company said today (10 August)....
Coca-Cola Amatil (CCA) is poised to shake up its Indonesian and South Korean bottling operations, according to an investment bank....
Coca-Cola Amatil is to issue a five-year A$250m (US$192m) domestic debt issue....
SPC Ardmona has signed an agreement with parent company Coca-Cola Amatil (CCA) to supply it with apple juice....
The managing director of Coca-Cola Amatil's (CCA) South Korean unit has taken extended leave, according to press reports....
- No Home Comfort for TWE as Bids Collapse
- Treasury Wine Estates: Here I Go Again On My Own
- Bacardi Seeks Own History at Bombay Sapphire Home
- Will low-alcohol wines wither on the vine?
- Private-equity bids "over" - TWE head
- Diageo's Johnnie Walker hit by Travel Retail slump
- Carlsberg suspends production at Russian brewery
- Treasury Wine Estates pulls plug on takeover talks
- Anheuser-Busch InBev shuts fourth Russian brewery
- Mallya stays chairman at Diageo's United Spirits