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8/31/2018, 9:28 AM (Source: TeleTrader)
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Costa owner Whitbread soars 17% on Coca-Cola acquisition news

Costa Coffee owner Whitbread plc soared over 17% on Friday on the news it is selling its coffeehouse chain Costa Coffee to Coca-Cola.

Coca-Cola announced it will acquire Costa, a subsidiary of Whitbread, in a deal worth $5.1 billion and noted it expects the transaction to close in the first half of next year.

Whitbread rocketed 17.54% to 4,725p at 9:26 am CET.

Breaking the News / NP