Key Developments: The Coca-Cola Co (KO)
40.93USD
18 Jun 2013
$0.25 (+0.61%)
$40.68
$40.70
$40.99
$40.57
9,893,068
14,187,553
$43.43
$35.58
Latest Key Developments (Source: Significant Developments)
The Coca-Cola Co Declares Regular Quarterly Dividend
The Coca-Cola Co announced that the Board declared a regular quarterly dividend of 28 cents per common share. The dividend is payable July 1, 2013, to shareowners of record as of June 14, 2013. Full Article
Coca-Cola Enterprises Inc Announces Right To Acquire German Bottler Will Expire And Increases Expected Return Of Cash To Shareowners
Coca-Cola Enterprises Inc announced that the right to acquire the German bottling business from The Coca-Cola Company will expire on May 25. As a result, CCE will increase expected return of cash to shareowners in 2013. Full Article
Coca-Cola Bottling Co. Consolidated Announces Signing Of Letter Of Intent With The Coca-cola Company For Expansion Of Franchise Territory
Coca-Cola Bottling Co. Consolidated announced that it has signed a non-binding letter of intent with The Coca-Cola Company to expand the Company`s franchise territory. The letter of intent provides additional distribution rights for the Company in parts of Tennessee and Kentucky which include major markets, Knoxville, TN and Lexington and Louisville, KY. Coca-Cola Refreshments USA, Inc. (CCR), a wholly owned subsidiary of The Coca-Cola Company, currently serves this territory. The proposed transaction for acquiring distribution rights to the expanded territory will be accomplished by a sub-bottling arrangement with CCR under which the Company would make ongoing payments to CCR in exchange for the exclusive distribution rights in the territory. CCR would also transfer its rights in the territory to distribute brands not owned by The Coca-Cola Company to the Company as part of the transaction. In addition to territory rights, the Company would also acquire distribution assets and certain working capital from CCR relating to the expanded territory. The Company would not acquire any production assets from CCR. The new territory will be covered by a new form of comprehensive beverage agreement between the parties. Full Article
The Coca-Cola Co Cutting 750 U.S. Jobs-Reuters
Reuters reported that The Coca-Cola Co said it will lay off 750 people in the United States as the soft drinks maker streamlines its business. The job cuts, which will be across the board, represent about 1 percent of the company's workforce of 75,000 in North America. About one-fourth of the cuts will be in Coke's home city of Atlanta, said a spokesman, confirming an earlier media report. Full Article
The Coca-Cola Co Prices $2.5 Billion of Senior Notes
The Coca-Cola Co announced that it priced $500 million aggregate principal amount of floating rate notes due 2015, $1.25 billion aggregate principal amount of 1.15% notes due 2018 and $750 million aggregate principal amount of 2.50% notes due 2023 in an underwritten, registered public offering. The transaction is expected to close on March 5, 2013, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to fund the redemption of the outstanding 5.00% Notes due 2013, 7.375% Notes due 2014 and 4.25% Notes due 2015, each issued by its wholly owned subsidiary Coca-Cola Refreshments USA, Inc., to pay related fees and expenses, including redemption premiums, and for general corporate purposes. BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering. Full Article
The Coca-Cola Co Increases Annual Dividend By 10 %
The Coca-Cola Co announced that it has approved the Company's annual dividend increase, raising the quarterly dividend 10 % from 25.5 cents to 28 cents per common share. This is equivalent to an annual dividend of $1.12 per share, up from $1.02 per share in 2012. The first quarterly dividend is payable April 1, 2013, to share owners of record as of March 15, 2013. Full Article
Coca Cola Femsa SAB de CV Finalizes Acquisition of 51% of The Coca-Cola Company's Philippines' Bottling Operation
Coca Cola Femsa SAB de CV announced that it has finalized the acquisition of 51% of Coca-Cola Bottlers Philippines, Inc. (CCBPI) from The Coca-Cola Company for an amount of USD688.5 million in an all-cash transaction. The closing of this transaction will be effective on January 25, 2013. This purchase price represents an aggregate enterprise value for 100% of the bottler of USD1,350 million. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six. Full Article
The Coca-Cola Co Acquires Sacramento Coca-Cola Bottling Company
Sacramento Coca-Cola Bottling Company announced that it has been acquired by The Coca-Cola Company. Sacramento Coca-Cola is the independent Coca-Cola bottler in the United States, with territories in all or part of nine counties in northern California. The purchase price was not disclosed. Full Article
Coca Cola Femsa SAB de CV Signs Definitive Agreement to Acquire 51% of The Coca-Cola Company's Philippines' Bottling Operation
Coca Cola Femsa SAB de CV announced that it have signed a definitive agreement for Coca-Cola FEMSA to acquire 51% of Coca-Cola Bottlers Philippines, Inc. (CCBPI) for an amount of USD688.5 million in an all-cash transaction. This purchase price represents an aggregate enterprise value for 100% of the bottler of USD1,350 million which results in a 2012 projected EBITDA multiple of approximately 13.5 times. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six. The transaction is expected to close in early 2013. Full Article
The Coca-Cola Co Ups Dairy Ante With Stake In Core Power-Reuters
Reuters reported that The Coca-Cola Co is taking an ownership stake in the maker of the Core Power protein drink as the soft drink Company increases its bet on milk-based beverages. Coca-Cola said it and Select Milk Producers Inc, a cooperative of dairy farmers, were taking equal stakes in the Core Power maker, which will be known as Fair Oaks Farms Brands LLC. Full Article
Coca-Cola Femsa Venezuela restarting after 24-day strike
CARACAS, June 13 - The Venezuela division of Coca-Cola Femsa , Latin America's largest Coke bottler, began restarting operations at its largest plant on Thursday following a 24-day strike that it called illegal.
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