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

Reuters logo Reuters 10/24/2020
a can of soda: Cans of Coca-Cola sit on a shelf in a store in London © Reuters/Stefan Wermuth Cans of Coca-Cola sit on a shelf in a store in London (Reuters) - 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 finalised, 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 this year. Coca-Cola Amatil has a current market capitalisation of A$7.76 billion ($5.54 billion), according to Refinitiv Eikon data.

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.

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

($1 = 1.4015 Australian dollars)

(Reporting by Paulina Duran in Sydney and Rebekah Mathew in Bengaluru; editing by Jason Neely and Lincoln Feast.)

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