Coca-Cola to buy Costa coffee for €4.3 billion

  • Coca-Cola to buy Costa coffee for €4.3 billion
    Independent.t. E.
    Uitbred that earlier this year it is planned to divide Costa and list it as a separate unit, said that of £3.9 bn (€4.3 bn) sale of the business Coca-Cola “in the interests of shareholders”.
    https://www.independent.ie/business/world/cocacola-to-acquire-costa-coffee-for-43bn-37269416.html
    https://www.independent.ie/incoming/article37058088.ece/efa8c/AUTOCROP/h342/ipanews_e06affc4-236e-49ed-92f2-67971bfa1b9e_embedded215875873

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Uitbred that earlier this year it is planned to divide Costa and list it as a separate unit, said that of £3.9 bn (€4.3 bn) sale of the business Coca-Cola “in the interests of shareholders”.

Proceeds from the sale will be used to repay debt and increasing Pension Fund.

The large majority of net cash designed to be returned to shareholders, Whitbread added.

Uitbred will now focus on the hotel Premier INN.

Chief Executive Alison Brittain said: “this transaction is good news for shareholders as it recognizes the strategic value that we have developed in the Costa brand and its international growth and accelerate the realization of value for shareholders in the form of money.

“This combination will ensure the development of new products, further growth in the UK and a more rapid foreign expansion”.

James Quincey, Coca-Cola President and chief Executive officer, said, “Costa gives Coca-Cola the new opportunities and experience in coffee, and our system can create opportunities for growth of the Costa brand around the world.

“Hot beverages is one of the few remaining segments of the General landscape of the drinks, where Coca-Cola does not have a global brand. Costa gives us access to this market via strong coffee platform. I would like to welcome team “Coca-Cola” and look forward to working with them.”

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