Update - US: The Coca-Cola Co cleared for CCE acquisition
Coca-Cola has received approval for the acquisition of Coca-Cola Enterprise's (CCE) North American business
This story appeared on just-drinks yesterday. It is repeated here with details regarding FTC conditions on the transaction. For further details on these conditions, click here.
The firm has received approval from the US Federal Trade Commission and Canadian Competition Bureau, it said yesterday (27 September), subject to certain "firewall protective measures" with respect to its new distribution agreements with Dr Pepper Snapple Group.
"We are pleased to have received regulatory clearance for the acquisition of CCE's North American business," said Muhtar Kent, chairman and CEO of Coca-Cola. "The thoughtful and disciplined planning process for our new North American business structure will enable us to operate as one strong, aligned business system, with increased operating effectiveness and efficiency."
The completion of the acquisition, announced in February, remains subject to the receipt of approval by CCE shareowners, who are scheduled to vote on Friday (1 October).
CCE confirmed to just-drinks yesterday that it is considering a secondary listing on the London Stock Exchange if the impending takeover of its North American business by The Coca-Cola Co is approved.
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