Aboitiz completes acquisition of Coca-Cola PhilippinesIn a stock exchange filing, Aboitiz Equity Ventures Inc. (AEV) said the parties have closed the transaction following the completion of all the conditions precedent to the acquisition. MANILA, Philippines — The Aboitiz Group’s entry into the branded consumer goods space is ready to commence with its successful acquisition of Coca-Cola Beverages Philippines Inc. (CCBPI). In a stock exchange filing, Aboitiz Equity Ventures Inc. (AEV) said the parties have closed the transaction following the completion of all the conditions precedent to the acquisition. AEV and Coca-Cola Europacific Partners plc (CCEP) have purchased 100 percent of CCBPI from Atlanta-based The Coca-Cola Co. for $1.8 billion. The acquisition will build on AEV’s portfolio diversification strategy to enter the branded consumer goods spaces.

Source: Philippine Star February 24, 2024 11:55 UTC