⁍ The world’s largest independent bottler of Coca-Cola is offering A$12.75 per share.

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⁍ The takeover has the backing of Amatil’s independent shareholders, the company said.

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⁍ Both companies, which bottle and sell Coca-Cola drinks across their respective markets, have been hit by lockdowns that have squeezed volumes.

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– The world’s biggest bottler of Coca-Cola is buying the biggest bottler in Australia in what would be the country’s biggest deal of the year. Coca-Cola Amatil Ltd. said Monday that Coca-Cola European Partners offered to buy it for $6.58 billion, per Reuters. The world’s largest independent bottler of Coca-Cola is offering A$12.75 per share, an 18.6% premium to the last closing price of the Sydney-based company that operates across six countries in the Asia-Pacific. The company said that including long-term incentive share rights, the implied equity deal value was A$9.28 billion. The takeover has the backing of Amatil’s independent shareholders, the company said. US-based Coca-Cola Co owns a 30.8% stake in Coca-Cola Amatil and a 19.4% stake in Coca-Cola European Partners, according to Refinitiv data. Both companies, which bottle and sell Coca-Cola drinks across their respective markets, have been hit by lockdowns that have squeezed volumes and forced them to look to other channels. Shares of Coca-Cola Amatil are down nearly a fifth from their 2020 high. Business in the third quarter has improved, Amatil said, due to an easing of COVID-19 restrictions and a recovery in on-the-go channels such as fast-food outlets, cafes, and convenience stores.