Amatil chief sells shares

The CEO of Coca-Cola Amatil (CCA) has sold a chunk of his shares in the Australian soft drinks producer and bottler.

Terry Davis is understood to have sold 450,000 shares in the firm, which the company said was part of a “settlement”.

A spokesperson for Coca-Cola Amatil told just-drinks today (25 February): “Terry Davis sold shares as part of a property settlement with his former wife. His shareholding in CCA is still substantial.”

The firm recently reported a double-digit rise in profits for 2009 and said that it expects more growth in the first half of 2010.

The bottler also revealed plans to focus on the Indonesian market with an expectation of achieving double-digit volume growth there as it looks to build on a 16.4% rise in full-year group profits for 2009.