Aug 31, 2018

Coca-Cola to buy Costa chain for £3.9bn

Coca-Cola is to buy the Costa coffee chain from owner Whitbread in a deal worth £3.9bn. Whitbread said its board had unanimously approved the deal as being in the best interests of shareholders. Whitbread bought Costa, which is now the UK's biggest coffee chain, for just £19m in 1995. "Ms Brittain said:"This transaction is great news for shareholders as it recognises the strategic value we have developed in the Costa brand and its international growth potential and accelerates the realisation of value for shareholders in cash. Whitbread announced earlier this year that it was planning to spin off Costa. The deal is subject to the agreement of Whitbread's shareholders and various other approvals, including anti-trust approvals,.

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