Coca Cola 3 main bottlers merge to form one main company amid cost cutting and revenue pressures
Audit International- the leaders in Internal Audit and External Audit recruitment across Europe have learned that the drinks giant Coca-Cola will consolidate its 3 major bottling companies in a move to reduce costs amid sliding sales due to the competitive market environment currently.
The three existing companies; namely- Coca-Cola Iberian Partners SA, Germany’s Coca-Cola Erfrischungsgetränke AG and Atlanta basedd Coca-Cola Enterprises (CCE) Inc. who are a listed US entity will form the new company which is to be based out of the UK.
CCE which distributes Coke in eight European countries including the U.K. and France, would have a 48% stake in the new company,
The newly merged firm is to be called Coca-Cola European Partners PLC.
As regards shareholdings ad how the newly formed structure will be going forward- Iberian Partners and Coke would have 34% and 18% stakes, respectively.
The newly formed company will then be based in London and traded on the Euronext Amsterdam, New York Stock Exchange and Madrid Stock Exchanges.
Coke’s CEO has said the merger will lead the company to “more effectively compete and drive growth”.
For the latest Audit news and opportunities in Audit or Corporate Governance worldwide, please contact email@example.com on 0041 4350 830 95.
1594 total views, 1 today