Coca-Cola Europacific Agrees to Buy Coca-Cola Beverages Philippines in $1.8 Billion Deal
By Joe Hoppe
Coca-Cola Europacific Partners said it has reached a definitive agreement to jointly buy Coca-Cola Beverages Philippines, Inc., or CCBPI, from The Coca-Cola Company for $1.8 billion in a joint acquisition.
The London-listed bottling company said Monday it has agreed together with Philippines conglomerate Aboitiz Equity Ventures Inc. to buy the entirety of CCBPI, in a 60:40 ownership structure. Coca-Cola Europacific will hold the larger stake.
The company said the acquisition will build upon its prior expansion into Australia, Pacific and Indonesia in 2021, positioning Coca-Cola Europacific as the world's largest Coca-Cola bottler by both revenue and volume.
The acquisition is still subject to a number of closing conditions, including regulatory approval.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 20, 2023 02:49 ET (07:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now