Coca-Cola obtains regulatory clearance for CCE's North American business acquisition
September 28, 2010
The Coca-Cola Co., Atlanta, announced that the U.S. Federal Trade Commission and Canadian Competition Bureau have both cleared the company's proposed acquisition of the North American operations of Coca-Cola Enterprises (CCE), subject to certain firewall protective measures with respect to its new distribution agreements with Dr Pepper Snapple Group.
"We are pleased to have received regulatory clearance for the acquisition of CCE's North American business," said Muhtar Kent, chairman and chief executive officer of The Coca-Cola Co., in a statement. "The thoughtful and disciplined planning process for our new North American business structure will enable us to operate as one strong, aligned business system, with increased operating effectiveness and efficiency. Upon close, we will be well positioned to best serve the unique needs of our flagship market and accelerate sustainable growth for the Coca-Cola system."
The completion of the acquisition remains subject to the receipt of approval by CCE shareowners, who are scheduled to vote on Friday. Coca-Cola anticipates the acquisition will become effective in the days following CCE shareowner approval.