Coca-Cola bottlers agree to three-way combination

[August 06, 2015]  LONDON (Reuters) - Coca-Cola Enterprises, a European soft drink bottler, is to combine with Coca-Cola Iberian Partners (CCIP) and the German bottling business of Coca-Cola Co, the companies said on Thursday, creating the world's largest independent bottler of Coke drinks with business in 13 countries.

The new company, to be called Coca-Cola European Partners, will have annual revenue of $12.6 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of $2.1 billion.

CCE's shareholders will own 48 percent of the company, with CCIP's shareholders owning 34 percent. Coca-Cola, the world's largest soft drink maker, will own 18 percent.

The new company will be publicly traded on the Euronext Amsterdam, the New York Stock Exchange and the Madrid Stock Exchange.

(Corrects to "EBITDA" from "operating earnings", paragraph 2)

(Reporting by Martinne Geller in London; editing by Jason Neely)
 

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.