Media Contact:
Michelle Murray
Chief Marketing Officer
Phone: 212.701.3614
Fax: 212.378.2410
mmurray@cahill.com

Legal News

Cahill Represents Coca-Cola Enterprises in Merger with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränk

Date: 08/06/15

Cahill represented Coca-Cola Enterprises, Inc. ("CCE") in connection with its agreement to combine with Coca-Cola Iberian Partners SA and Coca-Cola Erfrischungsgetränke AG to form Coca-Cola European Partners Plc, a new UK company that is expected to create the world's largest independent Coca-Cola bottler based on net revenues. The combined company will serve more than 300 million consumers in 13 countries across Western Europe, with an expected annual net revenues of $12.6 billion.

At closing, Coca-Cola Iberian Partners and The Coca-Cola Company will own 34% and 18% of the combined company, respectively, with CCE shareowners owning 48% on a fully diluted basis. CCE shareowners will receive, for each CCE share held, one share of Coca-Cola European Partners and a cash payment of $14.50 per share. The aggregate cash payment of approximately $3.3 billion will be funded by the new company using newly issued debt.

The merger is expected to close in the second quarter of 2016.