The Coca-Cola Company Obtains Regulatory Clearance for Acquisition of CCE’s North American Business
ATLANTA, - The Coca-Cola Company (NYSE: KO) today announced that the U.S. Federal Trade Commission and Canadian Competition Bureau have both cleared the Company’s proposed acquisition of the North American operations of Coca-Cola Enterprises (NYSE: CCE), subject to certain firewall protective measures with respect to its new distribution agreements with Dr Pepper Snapple Group (NYSE: DPS) .
“We are pleased to have received regulatory clearance for the acquisition of CCE’s North American business,” said Muhtar Kent, chairman and CEO, The Coca-Cola Company. “The thoughtful and disciplined planning process for our new North American business structure will enable us to operate as one strong, aligned business system, with increased operating effectiveness and efficiency. Upon close, we will be well positioned to best serve the unique needs of our flagship market and accelerate sustainable growth for the Coca-Cola system.”
The completion of the acquisition remains subject to the receipt of approval by CCE shareowners, who are scheduled to vote on October 1, 2010 at 8:30 AM EDT. The Coca-Cola Company anticipates the acquisition will become effective in the days following CCE shareowner approval.
About The Coca-Cola Company and CCE Transaction
In February, The Coca-Cola Company and CCE announced that they entered into definitive agreements enabling the Company to acquire CCE’s North American bottling business, and for CCE to acquire the Company’s bottling operations in Norway and Sweden. Additionally, CCE will have the right to acquire The Coca-Cola Company’s majority interest in its German bottler.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Along with Coca-Cola®, recognized as the world’s most valuable brand, the Company’s portfolio includes 12 other billion dollar brands, including Diet Coke®, Fanta®, Sprite®, Coca-Cola Zero®, vitaminwater®, Powerade®, Minute Maid®, Simply® and Georgia®. Globally, we are the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy the Company’s beverages at a rate of 1.6 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that protect the environment, conserve resources and enhance the economic development of the communities where we operate. For more information about our Company, please visit our website at www.thecoca-colacompany.com.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.