Coca Cola in control
Coca Cola Company of the United States, has taken a 59.5 per cent stake in Amatil after a complex share restructuring, which included the spin-off of its tobacco unit. Amatil said the size of the Coca Cola holding reflected the fact that most shareholders opted to take cash rather than a new series of preferred stock in the restructuring plan which was unveiled on April 21. United Kingdom insurance and tobacco giant, British American Tobacco, Pic, bailed out of Amatil under the restructuring plan, with its 41 per cent stake in the company being swapped for a controlling stake in the W.D. and H.O. Wills tobacco company.
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Press, 22 July 1989, Page 32
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111Coca Cola in control Press, 22 July 1989, Page 32
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