Coca-Cola İçecek acquires Coca-Cola Bangladesh

Coca Cola içecek

Coca-Cola İçecek acquires Coca-Cola Bangladesh for 130 million dollarsCoca-Cola İçecek acquires Coca-Cola Bangladesh.

Coca-Cola İçecek A.Ş. announced the completion of the acquisition of Coca-Cola Bangladesh Beverages in a statement to the Public Disclosure Platform (KAP).

Coca-Cola İçecek’s statement on the subject sent to KAP is as follows

“Coca-Cola İçecek A.Ş. (“CCI” or “our Company”) – together with its wholly owned subsidiary CCI International Holland B.V. (“CCIHBV”) – has today signed a share purchase agreement (“SPA”) to acquire 100% of the shares in Coca-Cola Bangladesh Beverages Limited (“CCBB”), a subsidiary of The Coca-Cola Company (“TCCC”).

The majority shareholder of CCBB will be CCIHBV directly. CCBB is one of the two bottling companies in Bangladesh engaged in the production, sales and distribution of TCCC’s carbonated and still beverage brands.

Under the agreement, CCI will acquire 100% of the shares representing the share capital of CCBB for an enterprise value of USD 130 million less estimated net financial debt as of the closing date (“Share Value”). The Share Value is subject to a price adjustment mechanism and will be recalculated once CCBB’s net financial debt as of the closing date has been finalized through a post-closing audit. The acquisition is expected to be funded by CCIHBV’s existing cash resources and is expected to have a slight impact on CCI’s net leverage.”

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