Coca-Cola European Goes Global With $6.6 Billion Deal
- Purchase creates global operator of plants and distribution
- Comes as sugary soda sales wane for big drinks makers
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Coca-Cola European Partners Plc agreed to buy Australian bottler Coca-Cola Amatil Ltd., creating a global producer of packaged beverages to better withstand a slowdown in the industry and the shift away from sugary drinks.
The purchase values Sydney-based Coca-Cola Amatil at A$9.23 billion ($6.6 billion), a 19% premium to where its shares traded last week. The target’s board intends to unanimously recommend the offer.