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Coca-Cola Co (KO.N)

KO.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Whitbread To Sell Costa To Coca-Cola For 3.9 Bln Stg
Friday, 31 Aug 2018 02:00am EDT 

Aug 31 (Reuters) - Whitbread PLC ::PROPOSED SALE OF COSTA TO THE COCA-COLA COMPANY.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION, REPRESENTING A MULTIPLE OF 16.4X COSTA FY18 EBITDA.RECOGNISES STRATEGIC VALUE OF COSTA'S BRAND STRENGTH, MULTI-CHANNEL PRESENCE AND INTERNATIONAL GROWTH POTENTIAL.TRANSACTION UNANIMOUSLY AGREED BY WHITBREAD BOARD TO BE IN BEST INTERESTS OF SHAREHOLDERS.NET CASH PROCEEDS EXPECTED TO BE APPROXIMATELY £3.8 BILLION AT COMPLETION, AFTER ADJUSTING FOR ESTIMATED TRANSACTION COSTS AND SEPARATION COSTS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS AND MAKE A CONTRIBUTION TO PENSION FUND.WILL BOTH PROVIDE HEADROOM FOR FURTHER EXPANSION OF PREMIER INN IN UK AND GERMANY.TRANSACTION IS CONDITIONAL UPON AGREEMENT BY WHITBREAD'S SHAREHOLDERS AND VARIOUS OTHER APPROVALS.SIGNIFICANT MAJORITY OF NET CASH PROCEEDS FROM DEAL INTENDED TO BE RETURNED TO SHAREHOLDERS.AS PART OF DEAL, DOMINIC PAUL WILL REMAIN AS COSTA MANAGING DIRECTOR AND WILL NO LONGER BE A MEMBER OF WHITBREAD EXECUTIVE COMMITTEE.EXPECTS TO REACH AGREEMENT WITH OTHER STAKEHOLDERS, SUCH AS PENSIONS TRUSTEES, IN RELATION TO EXTENT OF CONTRIBUTIONS TO PENSION DEFICIT.WHITBREAD AND COCA-COLA HAVE ALSO ENTERED INTO A TRANSITIONAL SERVICES AGREEMENT.WHITBREAD HAS AGREED TO PROVIDE VARIOUS SERVICES INCLUDING IT, PROCUREMENT AND HR SERVICES TO COCA-COLA FOR 12-24 MONTHS.  Full Article

Coca-Cola FEMSA Acquires Bottler In Uruguay
Thursday, 28 Jun 2018 05:21pm EDT 

June 28 (Reuters) - Coca-Cola Co ::COCA-COLA FEMSA ACQUIRES BOTTLER IN URUGUAY.COCA-COLA FEMSA SAB DE CV - ACQUIRES MONTEVIDEO REFRESCOS S.R.L. FROM COCA-COLA FOR ENTERPRISE VALUE OF $250.7 MILLION ON A CASH FREE AND DEBT FREE BASIS.COCA-COLA FEMSA SAB DE CV SAYS ACQUIRES MONTEVIDEO REFRESCOS S.R.L. FROM COCA-COLA IN AN ALL CASH TRANSACTION - SEC FILING.  Full Article

Coca-Cola Co updates currency outlook and reaffirms guidance
Wednesday, 13 Jun 2018 01:30am EDT 

June 13 (Reuters) - Coca-Cola Co ::THE COCA-COLA COMPANY UPDATES CURRENCY OUTLOOK AND REAFFIRMS GUIDANCE, INCLUDING EPS GROWTH TARGET (NON-GAAP), IN ADVANCE OF DEUTSCHE BANK GLOBAL CONSUMER CONFERENCE.COMPANY NOW EXPECTS CURRENCY HEADWIND TO Q2 COMPARABLE NET REVENUES (NON-GAAP) TO BE IN RANGE OF 0% TO 1%.EXPECTS FULL YEAR 2018 CURRENCY HEADWIND TO COMPARABLE NET REVENUES (NON-GAAP) TO BE IN RANGE OF 0% TO 1%.COMPANY REAFFIRMED ITS REMAINING, PREVIOUSLY ANNOUNCED FULL YEAR 2018 EXPECTATIONS.EXPECTS THE CURRENCY HEADWIND ON SECOND QUARTER COMPARABLE OPERATING INCOME (NON-GAAP) TO BE APPROXIMATELY 2%.EXPECTS THE FULL YEAR 2018 CURRENCY HEADWIND ON COMPARABLE OPERATING INCOME (NON-GAAP) TO BE IN THE RANGE OF 2% TO 3%.NOT ABLE TO RECONCILE FULL YEAR 2018 PROJECTED ORGANIC REVENUES (NON-GAAP) TO FULL YEAR 2018 PROJECTED REPORTED NET REVENUES.  Full Article

Coca-Cola Co Announces Letter Of Intent For Refranchising Of Canadian Bottling Operations
Friday, 9 Mar 2018 08:30am EST 

March 9 (Reuters) - Coca-Cola Co ::THE COCA-COLA COMPANY ANNOUNCES LETTER OF INTENT FOR REFRANCHISING OF CANADIAN BOTTLING OPERATIONS.COCA-COLA CO - LARRY TANENBAUM AND JUNIOR BRIDGEMAN TO FORM CANADIAN JOINT VENTURE TO ACQUIRE COCA-COLA REFRESHMENTS CANADA.COCA-COLA CO - FINAL NON-BINDING AGREEMENT WILL COMPLETE REFRANCHISING OF COMPANY-OWNED BOTTLING OPERATIONS IN NORTH AMERICA.COCA-COLA CO - FINANCIAL TERMS WERE NOT DISCLOSED..COCA-COLA CO - LARRY TANENBAUM O.C. & JUNIOR BRIDGEMAN HAVE SIGNED NON-BINDING LOI TO BUY CANADIAN BOTTLING & DISTRIBUTION BUSINESS.  Full Article

Coca-Cola Says Expect Comparable EPS Growth In 8 To 10 pct Range For FY 2018- Conf. Call
Friday, 16 Feb 2018 10:03am EST 

Feb 16 (Reuters) - Coca-Cola Co ::NONALCOHOLIC BEVERAGE INDUSTRY WAS LITTLE SOFT DURING 2017 AS EMERGING, DEVELOPING MARKETS SLOWED SLIGHTLY FROM LAST YEAR- CONF. CALL.EXPECT TO GROW COMPARABLE EPS IN RANGE OF 8 PERCENT TO 10 PERCENT IN FY 2018.INTEND TO USE APPROXIMATELY $7 BILLION OF CASH HELD OVERSEAS TO REPAY GROSS DEBT.EXPECT ORGANIC REVENUE TO GROW AT 4 PERCENT IN FY 2018.EXPECT 8-9 PERCENT UNDERLYING OPERATING INCOME GROWTH IN FY 2018.EXPECT COMMODITY PRICES TO RISE IN FY 2018.PENSION ACCOUNTING CHANGE WILL REQUIRE RESTATEMENT TO 2017 RESULTS, DO NOT EXPECT IT TO IMPACT 2018 GUIDANCE ON OPERATING INCOME.IN 2018, GROSS MARGINS WILL CONTINUE TO BE UNDER PRESSURE."DISSATISFIED" THAT CO WAS NOT ABLE TO TURN AROUND DIET COKE IN 2017.  Full Article

Coca-Cola Qtrly Loss Per Share From Continuing Operations $0.66
Friday, 16 Feb 2018 07:05am EST 

Feb 16 (Reuters) - Coca-Cola Co ::QTRLY LOSS PER SHARE FROM CONTINUING OPERATIONS $0.66.TOTAL UNIT CASE VOLUME WAS EVEN FOR THE QUARTER‍​.NET REVENUE DECLINED 20 PERCENT TO $7.5 BILLION FOR THE QUARTER.QTRLY COMPARABLE EARNINGS PER SHARE FROM CONTINUING OPERATIONS $0.39.Q4 EARNINGS PER SHARE VIEW $0.38, REVENUE VIEW $7.36 BILLION -- THOMSON REUTERS I/B/E/S.ORGANIC REVENUES (NON-GAAP) GREW 6% FOR QUARTER.IMPACT OF TAX CUTS AND JOBS ACT RESULTED IN A ONE-TIME NET CHARGE OF $3.6 BILLION DURING THE QUARTER ENDED DEC. 31, 2017‍​.SEES ABOUT 4% GROWTH IN ORGANIC REVENUE (NON-GAAP) IN 2018.PLANS TO REDUCE GROSS DEBT LEVEL BY ABOUT $7 BILLION WITH CASH HELD OVERSEAS.SEES 8-9% GROWTH IN COMPARABLE CURRENCY NEUTRAL OPERATING. INCOME (STRUCTURALLY ADJUSTED) IN 2018.QTRLY SPARKLING SOFT DRINKS UNIT CASE VOLUME FLAT.SEES 2018 COMPARABLE EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO GROW 8% TO 10% VERSUS $1.91 IN 2017.FY2018 EARNINGS PER SHARE VIEW $2.01, REVENUE VIEW $30.97 BILLION -- THOMSON REUTERS I/B/E/S.SEES FY 2018 CAPITAL EXPENDITURES (EXCLUDING DISCONTINUED OPERATIONS) OF ABOUT $1.9 BILLION.SEES 2018 NET SHARE REPURCHASES, NON-GAAP, APPROXIMATELY $1.0 BILLION‍​.  Full Article

Coca-Cola Raises Quarterly Dividend To 39 Cents Per Share
Thursday, 15 Feb 2018 11:02am EST 

Feb 15 (Reuters) - Coca-Cola Co ::BOARD OF DIRECTORS OF THE COCA-COLA COMPANY ANNOUNCES 56TH CONSECUTIVE ANNUAL DIVIDEND INCREASE.COCA-COLA CO - RAISING QUARTERLY DIVIDEND 5.4 PERCENT, FROM 37 CENTS TO 39 CENTS PER COMMON SHARE.  Full Article

Coca-Cola HBC sees some price increases due to inflation
Wednesday, 14 Feb 2018 03:19am EST 

Feb 14 (Reuters) - Coca Cola Hbc Ag ::COCA-COLA HBC CEO SEES OPPORTUNITIES FOR PRICE INCREASES IN EUROPE, EXCLUDING RUSSIA, DUE TO INFLATION.COCA-COLA HBC CEO SAYS IN RUSSIA, MODERATING INFLATION WILL LIMIT PRICE INCREASES, BUT COULD HELP VOLUME.COCA-COLA HBC CEO SAYS DECLINES TO COMMENT ON SALE PROCESS FOR COCA-COLA BOTTLING ASSETS IN AFRICA.COCA-COLA HBC CEO SEES INFLATION IN NIGERIA STAYING AROUND MID-TEEN LEVEL.  Full Article

Coca-Cola Co Revises Release Date For Q4 And FY 2017 Financial Results To Feb. 16
Thursday, 11 Jan 2018 10:00am EST 

Jan 11 (Reuters) - Coca-Cola Co ::COCA-COLA CO - ‍REVISED RELEASE DATE FOR Q4 AND FULL YEAR 2017 FINANCIAL RESULTS TO FEB. 16, BEFORE OPENING OF NEW YORK STOCK EXCHANGE​.COCA-COLA - ‍ ADDITIONAL TIME TO RELEASE Q4 AND FULL YEAR 2017 EARNINGS WILL ALLOW MANAGEMENT TO FULLY ASSESS IMPACT OF TAX CUTS AND JOBS ACT IN U.S..  Full Article

Irial Finan to Retire from Coca-Cola; Calin Dragan to Take Leadership of Bottling Investments Group
Friday, 8 Dec 2017 06:55am EST 

Dec 8 (Reuters) - Coca-Cola Co ::COCA-COLA - ‍IRIAL FINAN PLANS TO RETIRE FROM POST AS PRESIDENT OF BOTTLING INVESTMENTS GROUP, CALIN DRAGAN TO BE PROMOTED TO LEAD BOTTLING INVESTMENTS.  Full Article

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Busy as a Jollibee: Asia's fast-food giant expands abroad

LONDON Jollibee Foods , a major Asian fast-food operator, hopes to generate half its sales outside its home market of the Philippines within five to seven years, up from 30 percent now, its chief executive told Reuters.