Coca-Cola Amatil Stands To Receive About A$305 Million From SABMiller
22 September 2011 - 5:21PM
Dow Jones News
Coca-Cola Amatil Ltd. (CCL.AU) said Thursday it stands to
receive about A$305 million from SABMiller PLC (SAB.JO) if
SABMiller's A$9.9 billion bid for Foster's Group Ltd. (FGL.AU)
succeeds.
The company said that under amendments to the terms of its
Pacific Beverages joint venture with SABMiller, announced in June,
SABMiller has the right to acquire Coca-Cola Amatil's 50% interest
in the company.
"Should the SABMiller acquisition of Foster's go ahead we
believe this is a great deal for Coca-Cola Amatil and our
shareholders as it represents a strong return on our investment,"
Terry Davis, group managing director of Coca-Cola Amatil, said in a
statement.
He said the company would also have the opportunity to acquire
some of Foster's assets - spirits, mixed drink beverages, soft
drinks and a brewery in Fiji - at very low multiples under the
deal.
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
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