Coca-Cola Enterprises seeks European listing
March 15, 2011
Coca-Cola Enterprises (CCE), Atlanta, will seek a secondary share listing on the Professional Segment of the New York Stock Exchange (NYSE) Euronext in Paris.
The decision for CCE to list in Paris comes after the company’s sale of its North American business to The Coca-Cola Co. and its acquisition of The Coca-Cola Co.’s bottling operations in Norway and Sweden in the fourth quarter 2010.
As the pre-eminent Western European bottler of Coca-Cola products, CCE employs 13,500 employees across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden.
“Coca-Cola Enterprises is committed to our operations in Western Europe, and this secondary listing will provide European investors the opportunity to more easily benefit from our long-term growth plans,” said John F. Brock, chairman and chief executive officer, in a statement. “Our solid track record of success is built on our commitment to deliver world-class brands and superior customer service to capture the growth opportunities in Europe.”
The company’s secondary listing will complement its primary listing on the NYSE. The listing is expected to gain regulatory approval in mid- to late-second quarter 2011, at which time shares will begin trading under the stock symbol “CCE.” The listing will not alter CCE’s share count, capital structure or current stock listing on the NYSE.