AEV, CCEP plan local Coca-Cola acquisition

By Ed Paolo Salting

Aug 03, 2023 12:25 am

ABOITIZ Equity Ventures Inc. (AEV) and Coca-Cola Europacific Partners PLC (CCEP) have inked a nonbinding agreement with The Coca-Cola Company (TCCC) to acquire Coca-Cola Beverages Philippines Inc. (CCBP).

AEV said both parties are setting out the terms of the proposal to buy TCCC's 100-percent ownership in CCBP at an enterprise value of U$1.8 billion on a debt-free cash-free basis, consistent with TCCC's stated intent to divest its bottling operations.

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