News & insights
CCEP Indicative Proposal and Amatil Trading Update
26/10/2020
Coca-Cola Amatil
Coca-Cola Amatil Limited (Amatil, the Company or the Group) advises that it has received a non-binding indicative proposal (the Proposal) from Coca-Cola European Partners plc (CCEP) for the acquisition of all of the issued shares held by independent shareholders of Amatil (the Independent Shareholders) pursuant to a Scheme of Arrangement (Scheme) and the separate acquisition of Amatil shares held indirectly by The Coca-Cola Company (TCCC), which together comprises all of the issued share capital of Amatil (together, the Proposed Transaction).
The Company has today also provided a trading update to the market and will no longer provide an update on 2 November 2020 as previously anticipated.
Trading update
Amatil Group Managing Director Alison Watkins said, “It is pleasing to report that we are seeing earnings momentum return in markets where COVID-19 trading restrictions have eased, including continued recovery in “On-the-Go" (OTG) channels. This has particularly been the case in Western Australia and New Zealand which have both delivered growth in 3Q20, providing insight on the expected shape of the recovery that can be expected in other markets most notably in other Australian States where restrictions have been slower to ease.”