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- The billion-dollar takeover of Coca Cola Amatil (CCL) now lies in the hands of shareholders
- The first court hearing has taken place, with the New South Wales Supreme Court ordering Amatil to give its shareholders the vote to decide on the takeover
- Last year, the company reported that its European counterpart, Coca-Cola European Partners (CCEP), wanted to buy it for nearly $10 billion
- Shareholders are then expected to vote on the deal on April 14
- On the market today, Amatil is up 0.07 per cent and is trading at $13.43 per share
The billion-dollar takeover of Coca Cola Amatil (CCL) now lies in the hands of shareholders.
The first court hearing has taken place, with the New South Wales Supreme Court ordering Amatil to give its shareholders the vote to decide on the takeover.
Amatil bottles Coca-Cola–owned brands in Australia, New Zealand, Indonesia, Paupa New Guinea, Fiji and Samoa.
Last year, the company reported that its European counterpart, Coca-Cola European Partners (CCEP), wants to buy the brand’s Australian arm for $9.28 billion.
If the deal gets the green light, CCEP will own nearly 70 per cent of Amatil, with the remaining 30.8 per cent owned by the brand’s international parent, The Coca-Cola Company (TCCC).
However, the European business is also considering a deal to snatch up TCCC’s interest, giving it full control of the Aussie company.
More recently, the Australian Foreign Investments Review Board (FIRB) gave the green light to Coca-Cola European Partners to proceed with the buy.
The Court has ordered the company to dispatch its scheme booklet to independent shareholders, which is expected on Monday.
Shareholders are then expected to vote on the deal on April 14.
On the market today, Amatil is up 0.07 per cent and is trading at $13.43 per share at 2:42 pm AEDT
