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BRIEF-Coca-Cola Amatil Updates On Divestment Process For SPC

Published 18/02/2019, 09:57 am
© Reuters.  BRIEF-Coca-Cola Amatil Updates On Divestment Process For SPC

Feb 18 (Reuters) - Coca-Cola (NYSE:KO) Amatil Ltd CCL.AX :

* PROVIDES AN UPDATE ON DIVESTMENT PROCESS FOR SPC

* TO RECOGNISE A NON-CASH IMPAIRMENT OF CARRYING VALUE OF SPC'S NET ASSETS HELD FOR SALE OF $146.9 MILLION BEFORE TAX IN 2018 FY ACCOUNT

* NON-CASH IMPAIRMENT DOES NOT IMPACT UNDERLYING PERFORMANCE OF BUSINESS OR GROUP'S ABILITY TO PAY DIVIDENDS

* DUE TO NON-CASH IMPAIRMENT OF SPC & TRADING LOSS FOR YEAR, REPORTED LOSS IN "DISCONTINUED OPERATION" WILL BE ABOUT $120 MILLION AFTER TAX

* RECEIVED STRONG INTEREST IN SPC

* NUMBER OF NON-BINDING INDICATIVE OFFERS HAVE BEEN RECEIVED FROM AUSTRALIAN AND OVERSEAS PARTIES AS PART OF DIVESTMENT PROCESS

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