Australian drink firm in RI

Australian drink firm in RI

SYDNEY (AFP): Australian-based soft drinks bottler Coca-Cola Amatil Ltd. (CCA) announced yesterday to raise hundreds of millions of dollars from shareholders and expand its empire in Europe and Indonesia.

CCA said it would acquire 51 percent of the equity in PT Coca- Cola Tirtalina Bottling Co. in Indonesia, giving it full control of the company, the statement said.

The purchase would allow CCA to merge all its Indonesian interests into one business with the Pan Java Group left as the remaining 10 percent stake holder.

The company said it would raise A$670 million (US$480 million) to fund future growth by offering shareholders the right to buy one ordinary share for every four already held.

Directors announced that the company would also acquire all Coca-Cola Export Corp. interests in Rumania for US$131.4 million subject to shareholders' approval.

CCA said recent acquisitions of bottling operations in Poland, Croatia and Switzerland, coupled with the Rumanian and Indonesian expansions, were expected to boost 1995 earnings.