September 07, 2012
Coca-Cola completes Fiji deal
September 07, 2012 11:30 AM
Coca-Cola Amatil Limited (ASX:CCL) has completed its acquisition of Foster’s Fiji Business.
The soft drink company secured 89.6 per cent in Foster’s Group Pacific Limited for about $58 million.
Coca-Cola says it does not intend to acquire the remaining 10.4 per cent stake.
Any acquisition of the minority interest is subject to approval by the Reserve Bank of Fiji.
Coca-Cola scored the right to buy Foster’s assets when it amended the terms of its Pacific Beverages joint venture with international brewer SABMiller, who acquired all of Foster’s last year.
Coca-Cola Amatil reported net profit of $247.2 million in the first half of the 2012 financial year.