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THE board of global drinks giant The Coca-Cola Company has approved its $US500 million ($540.98 million) investment in Australia’s Coca-Cola Amatil to help it expand in Indonesia.
The deal was announced in late October and will see the US-based soft drinks giant will take a 29.4 per cent stake in Coca-Cola Amatil’s Indonesian subsidiary.
At the time, Coca-Cola Amatil (CCL) said the investment by the US drinks giant would help accelerate the expansion of production, warehousing and cold drink infrastructure in Indonesia.
The Coca-Cola Company already owns a 29.2 per cent stake in Coca-Cola Amatil.
The deal is now only conditional upon Indonesian regulatory approvals and CCA non-associated Shareholder approval.
Coca-Cola Amatil said it expected to execute definitive documentation related to the deal this week.