Coca-cola europacific partners plc announces update re acquisition of ccbpi

Uxbridge, england / accesswire / november 20, 2023 / coca-cola europacific partners plc (nasdaq:ccep)(lse:ccep) today announces it has, together with aboitiz equity ventures inc. (aev), entered into a definitive agreement to jointly acquire coca-cola beverages philippines, inc. (ccbpi) from the coca-cola company (ko) share purchase agreement (spa) further to the announcement on 2 august 2023, ccep today announces that it has completed its due diligence and entered into a definitive agreement, together with aev, to acquire 100% of ccbpi from ko the spa confirms the key terms of the proposed acquisition: 60:40 ownership structure between ccep and aev1 values 100% of ccbpi at us$1.8 billion on a debt-free, cash-free basis comprehensive governance arrangements agreed between ccep and aev the spa is subject to a number of customary closing conditions, including receipt of required regulatory approvals compelling strategic rationale the acquisition will build on ccep's successful expansion into australia, pacific & indonesia (api) in 2021, further strengthening the partnership with its significant shareholder ko, and positioning ccep as the world's largest coca-cola bottler by both revenue and volume while supporting its long-term growth strategy and focus on driving shareholder value. ccep's acquisition of ccbpi, with aev, one of the leading conglomerates in the local market, offers a great opportunity to co-own an established, well-run business with attractive profitability and growth prospects.
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