• Sunday, Nov 29, 2020
  • Last Update : 03:43 pm

Coca-Cola European Partners in talks to buy Coca-Cola Amatil

  • Published at 01:08 pm October 26th, 2020
Coca Cola
File photo: Cans of Coca-Cola sit on a shelf in a store in London, Britain March 16, 2016. REUTERS

A deal would be the largest acquisition of an Australian company in 2020

Coca-Cola European Partners is in advanced talks to acquire Australia's Coca-Cola Amatil, Bloomberg News reported on Saturday.

Details of the deal, which has not yet been finalized, could be announced within few days, Bloomberg reported, citing people familiar with the matter.

Neither company could be reached for comment outside business hours.

A deal would be the largest acquisition of an Australian company in 2020. Coca-Cola Amatil has a current market capitalization of A$7.76 billion ($5.54 billion), according to Refinitiv Eikon data.


Also read: Coca-Cola to increase $200m investment in Bangladesh


Shares in bottler Coca-Cola Amatil were halted on Thursday pending an announcement on a “potential material transaction”.

Rothschild & Co is advising Coca-Cola European Partners and UBS Group AG is advising the Australian target, a person with knowledge of the deal told Reuters on Sunday.

Media representatives for Rothschild did not immediately return requests for comment. UBS declined to comment.

US-based Coca-Cola owns a 19.11% stake in Coca-Cola European Partners, the world's largest independent bottler of Coca-Cola, Refinitiv data shows.

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