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-0.00126707025200624 -0.00112628466844993 -0.000281571167112432 0.000422356750668748 0.000563142334225063 0.00239335492045617 -0.000844713501337495 0.0048571026326904
Stock impact report

Coca-Cola abandons Costa Coffee sale [Yahoo! Finance]

Coca-Cola Company (The) (KO) 
Last coca-cola company (the) earnings: 4/21 05:55 am Check Earnings Report
US:NYSE Investor Relations: coca-colacompany.com/investors
Company Research Source: Yahoo! Finance
A month-long auction for the ailing coffee chain was called off last month, as the US drinks giant failed to reach an agreement with remaining bidders. Asda owner TDR Capital and Bain Capital, which owns Pizza Express and Gail's, are said to have been closest to securing the sale , according to the Financial Times. Coca-Cola had been seeking at least £2bn for Costa, which was roughly half of the £3.9bn it originally paid in 2018 to acquire the business from Whitbread, the Premier Inn owner. Previous reports suggested that a deal with TDR would see Coca-Cola retain a minority stake in Costa. Other private equity firms, including Apollo, KKR and Centurium Capital – the Australian owner of China's Luckin Coffee chain – had all dropped out of the running at an earlier stage. Despite the latest failed auction, Coca-Cola has reportedly not ruled out reviving plans to sell Costa, according to the FT. It comes as Costa battles widening losses as the chain struggles to compete wit Show less Read more
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