Coca-Cola European Partners (CCEP) has listed on the main market of the London Stock Exchange. The move comes just over three years after the merger to create the world’s largest Coca-Cola bottler by revenue (€11.5bn), operating across 13 countries in Western Europe.
Ordinary shares in CCEP were admitted to trading on the main market yesterday morning, with the delisting of shares from Euronext London occurring today.
Damian Gammell, CEO at CCEP, said: “The formation of CCEP was always about a bigger and bolder vision beyond the merger. Three years on, we are building a sustainable company on three pillars: great beverages, great service and great people.
“We feel this is the perfect time to move our UK listing to London Stock Exchange. We have a solid track record and we operate in the large and growing Western European non-alcoholic ready to drink market, where we have a leading position with the world’s best brands.”
The group’s CFO Nik Jhangiani highlighted that the move would “increase visibility of our story alongside improving market access for investors, thereby enhancing liquidity.”
Last month, CCEP revealed that it will invest over €500m in various initiatives during 2019, including new technology, supply chain capabilities and coolers.
NAM Implications:
- Independent financing means more scope for flexibility at local level…
- Time for competitor NAMs to reassess relative competitive appeal in Coca-Cola sub categories?
