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BRIEF-Coca-Cola Amatil Enters Into Scheme Implementation Deed With CCEP

Published 04/11/2020, 09:34 am
Updated 04/11/2020, 09:36 am
© Reuters.

Nov 4 (Reuters) - Coca-Cola (NYSE:KO) Amatil Ltd CCL.AX :

* COCA-COLA AMATIL ENTERS INTO SCHEME IMPLEMENTATION DEED WITH CCEP

* AMATIL AND CCEP HAVE ENTERED INTO A SCHEME IMPLEMENTATION DEED FOR ACQUISITION OF ALL SHARES HELD BY INDEPENDENT SHAREHOLDERS

* INDEPENDENT SHAREHOLDERS TO RECEIVE $12.75 CASH PER SHARE, LESS ANY 2H20 DIVIDEND

* TCCC'S SHARES IN AMATIL TO BE ACQUIRED BY CCEP SEPARATELY

* INDEPENDENT DIRECTORS UNANIMOUSLY RECOMMEND SCHEME, SUBJECT TO CONDITIONS

* EXPECTED SCHEME WILL BE VOTED ON AT A MEETING OF INDEPENDENT SHAREHOLDERS IN EARLY 2021

* SCHEME CONSIDERATION IMPLIES AN EQUITY VALUE ON A 100% FULLY DILUTED BASIS OF ABOUT A$9,282 MILLION & ENTERPRISE VALUE OF A$10,871 MILLION

* A BREAK FEE WILL BE PAYABLE BY AMATIL TO CCEP IN CERTAIN CIRCUMSTANCES

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