Britain's Whitbread to Sell Costa Coffee to Coke For $5.1 Billion
The deal was unanimously agreed by the Whitbread board to be in the best interests of shareholders, the company said in a statement.
Cappuccinos sit on a table in Costa Coffee in Loughborough, Britain April 25, 2018. (Reuters)
Britain's Whitbread Plc said on Friday it had agreed to sell coffee chain Costa to Coca Cola for an enterprise value of 3.9 billion pounds ($5.1 billion).
The deal was unanimously agreed by the Whitbread board to be in the best interests of shareholders, the company said in a statement. It acquired the chain in 1995, for 19 million pounds when it had only 39 shops.
($1 = 0.7679 pounds)
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