1/3/2019, 1:00 PM (Source: TeleTrader)
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EU approves Coca-Cola's acquisition of Costa Coffee

The European Commission said on Thursday it has approved Coca-Cola's proposed £3.9 billion ($5.1 billion) acquisition of Costa Coffee.

"The Commission concluded that the proposed acquisition would raise no competition concerns because the companies do not sell the same products and the links between their activities are limited," the regulator said in a statement.

In August 2018, Coca-Cola first announced it reached a deal to buy the coffee chain from Whitbread PLC for £3.9 billion and noted it expects the transaction to complete in the first half of 2019. The agreement has already been approved by Whitbread shareholders.

Breaking the News / NP