Brief: Coca Cola Icecek, Together With Subsidiary CCIHBV And TCCC Signs Share Purchase Agreement To Buy Of 100% Shares In Coca-Cola Bangladesh Beverages

Coca-Cola Icecek AS

15/02/2024 05:43

Feb 15 (Reuters) - COCA-COLA İÇECEK  CCOLA.IS :
    * COCA-COLA İÇECEK (CCI), TOGETHER WITH ITS WHOLLY OWNED
SUBSIDIARY CCI INTERNATIONAL HOLLAND B.V. ("CCIHBV") AND A
SUBSIDIARY OF COCA-COLA COMPANY ("TCCC"), SIGNS A SHARE PURCHASE
AGREEMENT FOR ACQUISITION OF 100% SHARES IN COCA-COLA BANGLADESH
BEVERAGES LIMITED ("CCBB") 
    * CCIHBV WILL BE MAIN DIRECT SHAREHOLDER
    * CCBB IS ONE OF TWO COMPANIES INVOLVED IN PRODUCTION, SALE,
AND
DISTRIBUTION OF SPARKLING AND STILL BRANDS OF COCA-COLA COMPANY
IN BANGLADESH
    * AS PER AGREEMENT, CCI WILL ACQUIRE 100% OF CCBB SHARES FOR
AN
EQUITY VALUE TO BE CALCULATED BY SUBTRACTING ESTIMATED NET
FINANCIAL DEBT OF CCBB AS OF CLOSING DATE FROM AN ENTERPRISE
VALUE OF $130 MILLION
    * EQUITY VALUE WILL BE SUBJECT TO A POST-CLOSING PRICE
ADJUSTMENT
MECHANISM FOLLOWING COMPLETION OF A CLOSING AUDIT TO DETERMINE
EXACT NET FINANCIAL DEBT AMOUNT OF CCBB AS OF CLOSING DATE
    * ACQUISITION IS EXPECTED TO BE FINANCED BY CCIHBV'S
EXISTING CASH
RESOURCES AND WILL HAVE A MODEST IMPACT ON CCI'S NET LEVERAGE

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA2Vf1pT
 Further company coverage:  CCOLA.IS  

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