Coca-Cola European goes global

Huge merger: Trucks with the Coca-Cola logo are seen at a plant in Europe. Coca-Cola European Partners’ deal to purchase Australian bottler Coca-Cola Amatil is a move to better withstand the slowdown in the industry and the move away from sugary drinks. — AP

HONG KONG: Coca-Cola European Partners Plc agreed to buy Australian bottler Coca-Cola Amatil Ltd, creating a global producer of packaged beverages to better withstand a slowdown in the industry and the shift away from sugary drinks.

The deal values Sydney-based Coca-Cola Amatil at A$9.23bil (US$6.6bil), a 19% premium to where its shares traded last week. The target’s board intends to unanimously recommend the offer.