Coca-Cola European Partners in talks to buy Coca-Cola Amatil

Bottles of Coca-Cola are displayed at a supermarket of Swiss retailer Denner, as the spread of the coronavirus disease (COVID-19) continues, in Glattbrugg, Switzerland

Coca-Cola European Partners is in advanced talks to acquire Australia’s Coca-Cola Amatil, Bloomberg News reported on Saturday.

The details of the deal, which has not yet been finalized, could be announced within a few days, Bloomberg reported, citing people familiar with the matter.

A deal would be the largest involving an Australian company this year, Bloomberg said.

U.S.-based Coca-Cola Co owns a 19.11% stake in Coca-Cola European Partners, the world’s largest independent bottler of Coca-Cola, Refinitiv Eikon data shows.

Shares in bottler Coca-Cola Amatil were halted on Thursday, pending an announcement on a “potential material transaction.”

Neither company could be reached for comment outside business hours.

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