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Coca-Cola European agrees to buy Coca-Cola Amatil for A$9.23b
[SYDNEY] Coca-Cola European Partners agreed to buy Australian bottler Coca-Cola Amatil on Monday, creating a global producer of many of the world's most popular packaged drinks worth more than US$24 billion.
The deal values Sydney-based Coca-Cola Amatil at A$9.23 billion (S$8.93 billion), a 19 per cent premium to where its shares last traded.
Coca-Cola European Partners offered A$12.75 cash per share, in a deal that will give it an even larger international footprint and immediate scale in the Southern hemisphere.
Coca-Cola Amatil's board said in a statement it intends to unanimously recommend the offer.