TIDMCCEP
RNS Number : 0932W
Coca-Cola European Partners plc
21 April 2021
21 April 2021
Coca-Cola European Partners plc (CCEP) today provides an
update
on the acquisition of Coca-Cola Amatil Limited (CCL), announces
new company name & combined Q1 trading update with an investor
event on 11 May 2021
Transaction update
-- At the Scheme Meeting on 16 April 2021, CCL's independent
shareholders voted in favour of the proposed Scheme of Arrangement
("Scheme")
-- On 20 April 2021 the Scheme received approval from the Supreme Court of New South Wales
-- Consequently, on 21 April 2021, the Scheme became effective
and will be implemented on 10 May 2021
New company name
Coca-Cola European Partners plc will be renamed Coca-Cola Euro
pacific Partners plc following implementation of the Scheme on 10
May 2021.
The company will continue to be listed on Euronext Amsterdam,
the New York Stock Exchange, London Stock Exchange and on the
Spanish Stock Exchanges, and will continue to trade under the
symbol "CCEP".
Q1 Trading update & investor event
CCEP will release its first-quarter 2021 trading update for the
quarter ended 2 April 2021 at 07:00 BST, 08:00 CEST and 2:00 a.m.
EDT on 11 May 2021.
On the same day, CCEP will also host a virtual event with
investors and analysts, focused on providing more detail on the
newly combined business. CCEP will webcast the main presentation
through its website, www.cocacolaep.com beginning at 13:00 BST,
14:00 CEST and 7:00 a.m. EDT. A presentation will be followed by a
panel Q&A session.
Further information
For more information on the transaction, please see our website
www.cocacolaep.com
Advisers
Rothschild & Co are acting as lead financial adviser. Credit
Suisse are financial advisers to the Affiliated Transaction
Committee (ATC) of the Board of Directors of CCEP. Macquarie
Capital is also acting as a financial adviser to CCEP in connection
with the transaction.
Slaughter and May and Corrs Chambers Westgarth are acting as
legal counsel to CCEP.
Enquiries
Clare Wardle, General Counsel and Company Secretary:
secretariat@ccep.com
Investor Relations: Sarah Willett: sarah.willett@ccep.com +44
7970 145 218
Media:
Shanna Wendt: swendt@ccep.com +44 7976 595 168
Peter Brookes: pbrookes@citadelmagnus.com +61 407 911 389
Brett Clegg: bclegg@citadelmagnus.com +61 487 436 985
About CCEP (LEI 549300LTH67W4GWMRF57)
Coca-Cola European Partners plc is a leading consumer goods
company in Western Europe, making, selling & distributing an
extensive range of non-alcoholic ready to drink beverages & is
the world's largest Coke bottler based on revenue. CCEP serves a
consumer population of over 300 million across Western Europe,
including Andorra, Belgium, continental France, Germany, Great
Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway,
Portugal, Spain & Sweden. The Company is listed on Euronext
Amsterdam, the New York Stock Exchange, London Stock Exchange &
on the Spanish Stock Exchanges, trading under the symbol CCEP. For
more information about CCEP, please visit www.cocacolaep.com &
follow CCEP on Twitter at @CCEP.
About CCL
Coca-Cola Amatil Limited (including subsidiaries, group entities
and related bodies corporate) is one of the largest bottlers and
distributors of ready-to-drink non-alcohol and alcohol beverages
and coffee in the Asia Pacific region. CCL is the authorised
bottler and distributor of KO's beverage brands in Australia, New
Zealand, Fiji, Indonesia, Papua New Guinea and Samoa. CCL directly
employs around 12,000 people and indirectly creates thousands more
jobs across the supply chain, partnering with key suppliers to
bottle, package, sell and distribute its products. With access to
around 270 million potential consumers through more than 630,000
active customers CCL is committed to leading through innovation,
building a sustainable future and delivering long-term value, both
to shareholders and to society.
For more information, visit www.ccamatil.com
No incorporation of website information
The content of the websites referred to in this announcement is
not incorporated into and does not form part of this
announcement.
Forward-Looking Statements
This document contains statements, estimates or projections that
constitute "forward-looking statements" concerning the financial
condition, performance, results, strategy and objectives of
Coca-Cola European Partners plc and its subsidiaries (together
"CCEP"), CCEP's proposed acquisition (the "Acquisition") of
Coca-Cola Amatil Limited and its subsidiaries (together "CCL") and
the integration of CCL into CCEP. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "plan,"
"seek," "may," "could," "would," "should," "might," "will,"
"forecast," "outlook," "guidance," "possible," "potential,"
"predict," "objective" and similar expressions identify
forward-looking statements, which generally are not historical in
nature.
Forward-looking statements are subject to certain risks that
could cause actual results to differ materially from CCEP's and
CCL's historical experience and present expectations or
projections, including with respect to the Acquisition. As a
result, undue reliance should not be placed on forward-looking
statements, which speak only as of the date on which they are made.
These risks include but are not limited to:
1. those set forth in the "Risk Factors" section of CCEP's 2020
Annual Report on Form 20-F, including the statements under the
following headings: Business continuity and resilience (such as the
adverse impact that the COVID-19 pandemic and related government
restrictions and social distancing measures implemented in many of
our markets, and any associated economic downturn, may have on our
financial results, operations, workforce and demand for our
products); Packaging (such as refillables and recycled plastics);
Cyber and social engineering attacks and IT infrastructure;
Economic and political conditions (such as the UK's exit from the
EU, the EU-UK Trade and Cooperation Agreement, and uncertainty
about the future relationship between the UK and EU); Market (such
as disruption due to customer negotiations, customer consolidation
and route to market); Legal, regulatory and tax (such as the
development of regulations regarding packaging, taxes and deposit
return schemes); Climate change and water (such as net zero
emission legislation and regulation, and resource scarcity);
Perceived health impact of our beverages and ingredients, and
changing consumer buying trends (such as sugar alternatives and
other ingredients); Competitiveness, business transformation and
integration; People and wellbeing; Relationship with TCCC and other
franchisors; Product quality; and Other risks; and
2. those set forth in the "Business and Sustainability Risks"
section of CCL's 2020 Financial and Statutory Reports including the
statements under the following headings: COVID-19 related risks;
The Coca-Cola Company (TCCC) and other brand partners relationship
risk; Economic and political risks; Cyber risk; Foreign exchange
risk; Key personnel risk; Beverage industry risk; Regulatory risk;
Corporate social responsibility risk; Climate change risk; Supply
chain risk; Litigation and legal disputes risk; Malicious product
tampering risk; Workplace Health & Safety (WHS) risk; Business
interruption risk; Product quality risk; Fraud risk.
3. risks and uncertainties relating to the Acquisition,
including the risk that the businesses will not be integrated
successfully or such integration may be more difficult, time
consuming or costly than expected, which could result in additional
demands on CCEP's resources, systems, procedures and controls,
disruption of its ongoing business and diversion of management's
attention from other business concerns; the possibility that
certain assumptions with respect to CCL or the Acquisition could
prove to be inaccurate; the failure to receive, delays in the
receipt of, or unacceptable or burdensome conditions imposed in
connection with, all required regulatory approvals, shareholder
approvals and the satisfaction of closing conditions to the
Acquisition; ability to raise financing; the potential that the
Acquisition may involve unexpected liabilities for which there is
no indemnity; the potential failure to retain key employees of CCEP
and CCL as a result of the proposed Acquisition or during
integration of the businesses and disruptions resulting from the
proposed Acquisition, making it more difficult to maintain business
relationships; the potential if the Acquisition is not completed in
a timely manner or at all for (i) negative reaction from financial
markets, customers, regulators, employees and other stakeholders,
(ii) loss of time spent on an unsuccessful Acquisition, and (iii)
litigation related to the Acquisition.
The full extent to which the COVID-19 pandemic will negatively
affect CCEP and/or CCL and the results of their operations,
financial condition and cash flows will depend on future
developments that are highly uncertain and cannot be predicted,
including the scope and duration of the pandemic and actions taken
by governmental authorities and other third parties in response to
the pandemic.
Due to these risks, CCEP's and CCL's actual future results,
dividend payments, and capital and leverage ratios may differ
materially from the plans, goals, expectations and guidance set out
in forward-looking statements (including those issued by CCL prior
to the Acquisition). These risks may also adversely affect CCEP's
share price. Additional risks that may impact CCEP's and CCL's
future financial condition and performance are identified in
filings with the United States Securities and Exchange Commission
("SEC") which are available on the SEC's website at www.sec.gov and
at the Australian Stock Exchange which are available at
www.asx.com.au. Neither CCEP nor CCL undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise, except
as required under applicable rules, laws and regulations.
Furthermore, neither CCEP nor CCL assumes any responsibility for
the accuracy and completeness of any forward-looking statements.
Any or all of the forward-looking statements contained in this
filing and in any other of CCEP's or CCL's respective public
statements (whether prior or subsequent to the Acquisition) may
prove to be incorrect.
This document does not constitute or form part of any offer for
sale or solicitation of any offer to buy any securities in the
United States or elsewhere nor shall it or any part of it form the
basis of or be relied on in connection with any contract or
commitment to purchase securities. Securities may not be offered or
sold in the United States absent registration or an exemption from
registration under the US Securities Act of 1933, as amended.
End
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