Coca-Cola Hellenic greenlights Coca-Cola HBC AG offer

Coca-Cola Hellenic greenlights Coca-Cola HBC AG offer

Coca-Cola Hellenic Bottling Company S.A. has announced its response to the proposed voluntary share exchange offer by Coca-Cola HBC AG to acquire the ordinary registered shares of Coca-Cola Hellenic, and to establish a premium listing of the Coca-Cola Hellenic Group on the London Stock Exchange.

 

The Coca-Cola Hellenic Board of Directors supports the voluntary share exchange offer of Coca-Cola HBC AG shares for Coca-Cola Hellenic shares.

The proposed offer will facilitate a primary listing of the Coca-Cola Hellenic Group in the premium segment of the London Stock Exchange and its potential inclusion in the FTSE 100, under a new Swiss holding company.

A NYSE listing will be established through Coca-Cola HBC AG ADSs and Coca-Cola HBC AG will apply for a parallel listing on the ATHEX.

The Coca-Cola Hellenic board believes that the transaction will better reflect the international nature of Coca-Cola Hellenic’s business and shareholder base; enhance liquidity for holders of Coca-Cola HBC AG shares; and improve the access of the Coca-Cola Hellenic Group to both the international equity and debt capital markets and increase its flexibility in raising new funds to support its operations and future growth.

This transaction will have no impact on Coca-Cola Hellenic’s business, strategy and operations. The Coca-Cola Company has informed Coca-Cola Hellenic, that it will extend the terms of the bottlers’ agreements between the Coca-Cola Hellenic Group and The Coca-Cola Company through 2023.

Commenting on the Coca-Cola HBC AG announcement, Dimitris Lois, Chief Executive Officer of Coca-Cola Hellenic, said: “This transaction makes clear business sense. It will benefit our company and our shareholders, and is recommended by our Board.

“A premium listing on the LSE and potential inclusion in the FTSE 100 reflects the international nature of our business and our shareholder base.

“It will give us access to the largest pool of international investors, on the most liquid equity market in Europe providing flexibility to fund our future growth on competitive terms.

“Our Hellenic origins and heritage made the Group the success it is today. We will continue to be proud ambassadors for Greece internationally.”

Coca-Cola HBC AG has announced that the purpose of the Exchange Offer is to facilitate a premium listing of the Coca-Cola Hellenic Group on the London Stock Exchange plc (the “LSE”) and a listing on the New York Stock Exchange (the “NYSE”), under a new Swiss holding company.

Coca-Cola HBC AG will at the same time apply for a parallel listing of the Coca-Cola HBC AG Shares on the Athens Exchange (“ATHEX”), subject to the necessary approvals.

The Coca-Cola Hellenic Group will maintain production and distribution of its products in Greece and will continue, after the completion of the transaction, to operate its Group Corporate Service Center in Athens which supports operations in 28 countries.

Stephanie Cornwall
Stephanie Cornwall
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