30 January 2024
Coca-Cola Europacific
Partners (CCEP) today confirms it has, together with Aboitiz Equity
Ventures Inc. (AEV), received regulatory approval from the
Philippines Competition Commission (PCC) to jointly acquire
Coca-Cola Beverages Philippines, Inc. (CCBPI) from
The Coca-Cola Company (KO)
·
Further to the announcements on 2 August and 20
November 2023 (see links below), CCEP today announces it has,
together with AEV, received regulatory approval from the PCC, to
acquire 100% of CCBPI from KO
·
The transaction is expected to close towards the
end of February 2024. Further updates will be provided in due
course.
Further information
For more information on the
transaction, please see our website www.cocacolaep.com
-
https://ir.cocacolaep.com/static-files/0e2aab54-4883-4518-bb2b-c1a5b4d55c2c
(2 August 2023)
-
https://ir.cocacolaep.com/news-releases/news-release-details/coca-cola-ep-plc-update-re-acquisition-ccbpi
(20 November 2023)
Advisers
Rothschild & Co is acting as
financial adviser to CCEP. BofA
Securities[1] is
acting as adviser to the Affiliated Transaction Committee (ATC) of
the Board of Directors of CCEP. Slaughter and May and Villaraza
& Angangco are acting as legal counsel to CCEP.
About CCEP (LEI 549300LTH67W4GWMRF57)
CCEP is one of the leading consumer
goods companies in the world. We make, move and sell some of the
world's most loved brands - serving 600 million consumers and
helping 2 million customers across 30 countries grow their
business.
We combine the strength
and scale of a large, multi-national business
with an expert, local knowledge of the customers we serve
and communities we support.
The Company is currently listed on
Euronext Amsterdam, NASDAQ (and a constituent of the Nasdaq 100),
London Stock Exchange and 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 @CocaColaEP.
About AEV
AEV is one of the leading
conglomerates in the Philippines with over 100 years of business
history. It has major investments in power, banking and financial
services, food, infrastructure, land, and data science and
artificial intelligence. AEV is recognized as one of the
best-managed companies in the Philippines and the region,
consistently cited for its commitment to good corporate governance
and sustainability. Currently, the company is on its Great
Transformation journey to become the Philippines' first
Techglomerate as it continues to drive change for a better world by
advancing business and communities.
AEV is a member of the United
Nations Global Compact, Global Compact Network Philippines Board of
Trustees, the APEC Business Advisory Council and the Council for
Inclusive Capitalism, and helps champion sustainability initiatives
on a regional level through policies, advocacies, and initiatives
that contribute to the United Nations Sustainable Development Goals
(UN SDGs). With a clear focus on ESG, the company is implementing
its #OneAboitizSustainability Synergy model which transforms its
life-essential businesses to improve sustainable practices and
continue to create a positive impact on society and the
environment.
Link to AEV's website and
release:
https://aboitiz.com/investor-relations/disclosure/
Enquiries
General Counsel and Company
Secretary: Clare Wardle; secretariat@ccep.com
Investor Relations: Sarah
Willett; sarah.willett@ccep.com
Media: ccep@portland-communications.com
Forward-Looking Statements
This document contains statements,
estimates or projections that constitute "forward-looking
statements", including concerning the proposed joint venture with
Aboitiz Equity Ventures Inc. (AEV) and acquisition of Coca-Cola
Beverages Philippines, Inc. (CCBPI). Generally, the words
"ambition", "target", "aim", "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 historical experience and present
expectations or projections. 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 2022 Annual Report on Form 20-F filed
with the SEC on 17 March 2023 and as updated and supplemented with
the additional information set forth in the "Principal Risks and
Risk Factors" section of the H1 2023 Half-year Report filed with
the SEC on 2 August 2023;
2. risks and uncertainties relating
to the global supply chain and distribution, including impact from
war in Ukraine and increasing geopolitical tensions and conflicts
including in the Middle East and Asia Pacific region, such as the
risk that the business will not be able to guarantee sufficient
supply of raw materials, supplies, finished goods, natural gas and
oil and increased state-sponsored cyber risks;
3. risks and uncertainties relating
to the global economy and/or a potential recession in one
or more countries, including risks from elevated inflation,
price increases, price elasticity, disposable income of consumers
and employees, pressure on and from suppliers, increased fraud, and
the perception or manifestation of a global economic
downturn;
4. risks and uncertainties relating
to potential global energy crisis, with potential interruptions
and shortages in the global energy supply, specifically the
natural gas supply in our territories. Energy shortages at our
sites, our suppliers and customers could cause interruptions to our
supply chain and capability to meet our production and distribution
targets;
5. risks and uncertainties relating
to potential water use reductions due to regulations by national
and regional authorities leading to a potential temporary decrease
in production volume; and
6. risks and uncertainties relating
to the proposed joint venture with AEV and acquisition of CCBPI,
including the risk that the proposed transactions may not be
consummated on the currently contemplated terms or at all, or that
our integration of CCBPI's business and operations may not be
successful or may be more difficult, time consuming or costly than
expected.
Due to these risks, CCEP's actual
future financial condition, results of operations, and business
activities, including the agreements relating to and results of the
proposed joint venture with AEV and acquisition of CCBPI, and
ability to remain in compliance with existing and future regulatory
compliance, may differ materially from the plans, goals,
expectations and guidance set out in forward-looking statements.
These risks may also adversely affect CCEP's share price.
Additional risks that may impact CCEP's future financial condition
and performance are identified in filings with the SEC which are
available on the SEC's website at www.sec.gov. CCEP does not
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. Any or all of the forward-looking
statements contained in this filing and in any other of CCEP's
public statements may prove to be incorrect.
End