World News – AU – ASX rises, as Coca-Cola Amatil receives $ 9 OPA 3B

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Foreign Minister says incident involving Australian passengers at Doha airport has been referred to AFP

At 10:55 a.m. AEDT, the benchmark ASX 200 was up 05 percent to 6,195 points

Some of the best performing stocks include Coca-Cola Amatil (144pc), RSE (55pc), Virgin Money UK (34pc) and IDP Education (47pc)

Westpac stock fell (-03pc) after the bank said it would suffer a $ 2 billion hit on its cash profits in the second half of the year

This was mainly because the bank had written down the value of its life insurance business and the additional costs associated with a record fine it received

Last month Westpac agreed to pay a $ 1 billion penalty for breaking Australia’s money laundering laws, following a lawsuit by financial crimes regulator AUSTRAC

On the other hand, gold and energy stocks like Resolute Mining (-29pc), Cooper Energy (-21pc), Regis Resources (-17pc) and Whitehaven Coal (-19pc) were the weakest

The country’s largest soft drink bottler, Coca-Cola Amatil, has revealed that it has received a $ 9 28 billion takeover bid from its European counterpart, Coca-Cola European Partners (CCEP)

The American company Coca-Cola Co owns 308 percent of the capital of Sydney-based bottler, Amatil, as well as a 19% stake in CCEP

Meanwhile, CCEP wants to buy the remaining 692 percent that is not owned by mainstream Coca-Cola

The European company is offering $ 12.75 per share, or 18.6% premium over Amatil’s last closing price ($ 10.75 on Friday)

Amatil has 32 production sites and operates in six countries in the Asia-Pacific region: Australia, New Zealand, Indonesia, Fiji, Papua New Guinea and Samoa

Activity for the September quarter has improved, Amatil said, due to an easing of coronavirus restrictions and an economic recovery for cafes, fast food outlets and convenience stores

« This was particularly the case in Western Australia and New Zealand giving some insight into the expected shape of the recovery that can be expected, » said Alison Watkins, Managing Director of Amatil. p>

This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and BBC World Service which is copyrighted and may not be reproduced

AEST = Australian Eastern Standard Time, which is 10 hours ahead of GMT (Greenwich Mean Time)

Coca-Cola Amatil

News from around the world – AU – ASX increases, while Coca-Cola Amatil receives $ 9 OPA 3B



SOURCE: https://www.w24news.com/news/world-news-au-asx-rises-as-coca-cola-amatil-receives-9-opa-3b/?remotepost=466378

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