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Coca-Cola European Partners Limited (CCEP)

Closing Price Change:
$0.11
Closing Price:
$33.56
Market Cap:
$15,855m

Coca-Cola Enterprises confirms merger with European bottlers

06 Aug 15

LONDON (ShareCast) - (ShareCast News) - Coca-Cola Enterprises confirmed it was merging with two separate Coca-Cola bottlers to form Coca-Cola European Partners.
Last week, the Wall Street Journal had reported the three groups were in negotiations over a proposed merger.

The newly-formed group will have a combined revenue of approximately $12.6bn, Coca-Cola Enterprises said, adding it will own 48% of the combined entity and Coca-Cola Iberian Partners will own 34%.

Coca-Cola Erfrischungsgetränke AG, the other company to take part in the merger and a wholly-owned subsidiary of Coca-Cola Co, will have an 18% stake in the combined entity.

The companies expect to realise annual synergies of $350m to $375m over the next three years.

Coca-Cola Enterprises shares have surged 17% in the year to date and were up 2.23% in pre-market trading on Thursday.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

 

Market Data

Currency US Dollars
52 Week High $58.77
52 Week Low $29.71
Shares Issued 472.43m
Market Cap $15,855m

Dividends

No dividends found