Creation of Coca-Cola European Partners Expected to Close Shortly
The shareowners of Coca-Cola Enterprises have approved the pending transaction to create Coca-Cola European Partners. CCE shareowner approval represents a key step in the process of completing the transaction and closing is now expected to occur on or about May 28, 2016.
After the closing of the transaction, Coca-Cola European Partners will be the world’s largest independent Coca-Cola bottler based on net sales and will combine the bottling operations of Coca-Cola Enterprises, Coca-Cola Iberian Partners, and Coca-Cola Erfrischungsgetränke.
Shares of Coca-Cola European Partners are expected to start trading simultaneously in New York, London, and Amsterdam on Tuesday, May 31, 2016. In Spain, trading is expected to start on Thursday, June 2, 2016.
“The creation of Coca-Cola European Partners will generate important benefits for each of our stakeholders,” says John Brock, chairman and chief executive of Coca-Cola Enterprises. “As a larger, consolidated organization, the three companies will be positioned to realize synergies, capture marketplace opportunities, and to deliver shareowner value.”
CAPTION:
Pictured (left to right): Muhtar Kent, chairman and chief executive of The Coca-Cola Company; Sol Daurella, executive chairwoman of Coca-Cola Iberian Partners; and John Brock, chairman and chief executive of Coca-Cola Enterprises, toasting the creation of Coca-Cola European Partners.
