Herbert Smith Freehills is pleased to have advised Coca-Cola Amatil Limited (Amatil) on all aspects of its acquisition by Coca-Cola European Partners plc (CCEP) of all of the issued shares held by independent shareholders of Amatil pursuant to a scheme of arrangement (Scheme).
The Scheme, which gives Amatil an implied enterprise value of approximately A$11.1 billion was successfully implemented on 10 May 2021.
CCEP also acquired the Amatil shares held indirectly by The Coca-Cola Company (TCCC) pursuant to a separate agreement with TCCC. As such, CCEP (through a wholly-owned subsidiary) is now the sole shareholder of Amatil.
CCEP has since announced that it will be known as “Coca-Cola Europacific Partners”.
Amatil is one of the largest bottlers of non-alcoholic ready-to-drink beverages in the Asia-Pacific region and one of the world's five major Coca-Cola bottlers. CCEP is a leading consumer goods company, a strategic partner to TCCC in Western Europe, and the world’s largest independent Coca-Cola bottler by revenue.
Tony Damian said, “We are delighted to have advised Amatil on such a landmark transaction and a key milestone in Amatil’s history. The team worked closely with Amatil to navigate the ongoing challenges brought about by the COVID-19 pandemic to deliver an excellent result for Amatil and its shareholders.”
UBS acted as financial adviser to Amatil.