San Miguel withdraws Coca-Cola Amatil offering
PSE Circular for Brokers No. 2376-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 22, 1999
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September 22, 1999 PSE CIRCULAR FOR BROKERS NO. 2376-99 San Miguel withdraws Coca-Cola Amatil offering San Miguel Corporation ("San Miguel") today announced that it has withdrawn plans to sell its approximately 21.5% stake 21 Australian bottler, Coca Cola Amatil Limited ("Coca-Cola Amatil") following a significant decline in Coca- Cola Amatil share prices since the announcement of the proposed offering. Coca-Cola Amatil shares finished at A$ 5.28 per share yesterday, the lowest closing price for the year. In 1997, San Miguel swapped its holdings in Coca-Cola Bottlers Philippines, Inc. for shares in Coca-Cola Amatil. The following year, the company sold its interest in Coca-Cola Beverages plc, the demerged European operations of Coca-Cola Amatil.
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