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BRIEF-Coca-Cola Amatil Gets A$9.23 Bln Takeover Bid From Coca-Cola European Partners

Published 26/10/2020, 09:28 am
© Reuters.

Oct 26 (Reuters) - Coca-Cola (NYSE:KO) Amatil Ltd CCL.AX :

* CCEP INDICATIVE PROPOSAL AND TRADING UPDATE-CCL.AX

* NON-BINDING INDICATIVE PROPOSAL FROM CCEP OF $12.75 CASH PER SHARE

* GOT NON-BINDING INDICATIVE PROPOSAL FROM CCEP OF $12.75 CASH PER SHARE FOR INDEPENDENT

* PROPOSAL IS FOR AN ALL CASH OFFER TO BE MADE TO INDEPENDENT SHAREHOLDERS OF $12.75 PER SHARE

* EQUITY VALUE ON A 100% FULLY DILUTED BASIS OF ABOUT A$9,282 MILLION

* 3Q20 GROUP TRADING REVENUE DOWN 4.2%

* AMATIL'S INDEPENDENT DIRECTORS INTEND TO UNANIMOUSLY RECOMMEND PROPOSED SCHEME

* PROPOSAL BY COCA-COLA EUROPEAN PARTNERS IS FOR AN ALL CASH OFFER TO BE MADE TO INDEPENDENT SHAREHOLDERS OF $12.75 PER SHARE

* PROPOSAL CONTEMPLATES CCEP ENTERING INTO SEPARATE AGREEMENT TO BUY THE COCA-COLA CO SHARES IN AMATIL

* SEES $140 MILLION OF SAVINGS THIS FY

* CAPITAL EXPENDITURE FOR FY20 EXPECTED TO BE ABOUT $210 MILLION

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