The creation of Coca-Cola European Partners will combine three bottlers to create the largest independent Coca-Cola bottler.
Shareowners of Coca-Cola Enterprises Inc. have officially approved the pending transaction to create Coca-Cola European Partners plc. The approval from Coca-Cola Enterprises is a key step in the completion of this transaction.
A European Union listing prospectus is expected to be finalized on or around May 25, 2016, and closing is expected to occur on or around May 28, 2016.
After the closing of the transaction, Coca-Cola European Partners will be the world’s largest independent Coca-Cola bottler based on net sales and will combine the bottling operations of Coca-Cola Enterprises Inc., Coca-Cola Iberian Partners S.A.U. and Coca-Cola Erfrischungsgetränke GmbH.
Shares of Coca-Cola European Partners are expected to start trading simultaneously in New York, Londo, and Amsterdam on Tues., May 31, 2016, at 9:30 a.m. EDT/14:30 BST/15:30 CEST. In Spain, trading is expected to start on Thurs., June 2, 2016, at 6 a.m. EDT/11 a.m. BST/ 12 p.m. CEST.
“The creation of Coca-Cola European Partners will generate important benefits for each of our stakeholders,” said John Brock, chairman and CEO of Coca-Cola Enterprises. “As a larger, consolidated organization, the three companies will be positioned to realize synergies, capture marketplace opportunities and to deliver shareowner value.”