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10/11/2018, 9:04 AM (Source: TeleTrader)
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Whitbread shareholders back Costa sale to Coca-Cola

Shareholders of Costa Coffee parent Whitbread PLC voted in favor of the proposed sale of the coffee chain to Coca-Cola for £3.9 billion with 99.3% of the shareholders backing the agreement.

In August, Coca-Cola announced the acquisition of Costa Limited from Whitbread and noted the purchase of the world's second-largest coffeehouse chain will provide it with a "strong coffee platform across parts of Europe, Asia Pacific, the Middle East and Africa, with the opportunity for additional expansion."

The proposed deal is still subject to regulatory approval in the European Union and China and the transaction is expected to be finalized in the first half of 2019.

Breaking the News / NP