Tuesday, 16 Apr, 2024

Business

Turkey's Coca-Cola pens deal to buy Coca-Cola Bangladesh for $130m

Business Desk | banglanews24.com
Update: 2024-02-16 21:01:09
Turkey's Coca-Cola pens deal to buy Coca-Cola Bangladesh for $130m

Turkey's Coca-Cola Isek (CCI) has signed an agreement for a whopping $130 million to acquire Coca-Cola Bangladesh Beverages Limited (CCBB). 

The agreement outlines the acquisition of the entire 100% shares in CCBB, with CCIHBV emerging as the primary direct shareholder.

CCI authorities confirmed regarding this agreement through their website on Thursday (February 16). 

According to agreement, CCI is set to acquire the complete shareholding of CCBB at an equity value (Equity Value) determined by subtracting CCBB's estimated net financial debt as of the closing date from an enterprise value of $130 million. A post-closing price adjustment mechanism will come into play after a comprehensive closing audit to ascertain the precise net financial debt amount of CCBB as of the closing date.

Karim Yahi, CEO of CCI said, "We are very pleased to sign the share purchase agreement to acquire CCBB, which we see as a great opportunity to enter a market with significant future potential, where growth and value can be generated by deploying CCI's core capabilities. This acquisition also creates a more diverse geographical footprint for CCI and solidifies its alignment with TCCC."

BDST: 2100 HRS, FEB 16, 2024
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