P. M. BRIEFING : Coke Seeks 41% of Australian Firm
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ATLANTA — The Coca-Cola Co. would acquire at least 41% of a major Australian food and tobacco company, AMATIL Ltd., under a reorganization plan announced today.
The deal has been approved by the boards of Coke, AMATIL and B.A.T. Industries, which is AMATIL’s largest shareholder, but is subject to the approval of AMATIL shareholders and Australian regulatory authorities. Financial terms were not disclosed.
Under the reorganization, AMATIL would concentrate on its core business of snack foods and soft drinks and would spin off its tobacco interests into a new company. AMATIL is one of the largest Coca-Cola bottlers in the world and one of Australia’s largest companies.
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