COCA-COLAENTERPRISES,COCA-COLA IBERIANPARTNERSANDCOCA-COLA ERFRISCHUNGSGETRÄNKEAG TOFORM COCA-COLAEUROPEANPARTNERS
MergerWillCreatetheWorld’sLargestIndependentCoca-ColaBottlerBasedon
NetRevenues
| · | Combinesbottling operations ofCoca-Cola Enterprises,Coca-ColaIberian Partnersand Coca-Cola ErfrischungsgetränkeAGinto a newWesternEuropean bottler, servingover300millionconsumersacross13countries |
| · | Combinedcompanypro forma 2015expectedannualnet revenuesofapproximately$12.6 billion andEBITDAof$2.1billion |
| · | EnhancestheCoca-Colasystemto more effectivelycompeteand drivegrowthacrossdevelopedEuropean marketswithaworld-class production,sales and distribution platform |
| · | Coca-ColaEuropeanPartnersisexpectedtorealizeannualrun-rate pre-taxsynergiesofapproximately$350-375millionwithin threeyearsofclosing |
| · | Coca-ColaEnterprises’ shareownerstoown48%,Coca-ColaIberianPartners’shareownerstoown34%andTheCoca-ColaCompanytoown18%ofCoca-Cola EuropeanPartners’sharesonafullydiluted basis |
| · | Coca-Cola Enterprises’ shareowners to receive one share of Coca-Cola European Partners and a one-time cash payment of $14.50 per share |
| · | Coca-ColaEuropeanPartnerswillbepubliclytradedon theEuronextAmsterdam, theNewYork StockExchangeand theMadrid StockExchange |
| · | Investmentcommunityconferencecallat 8:30a.m.EDT, 1:30p.m.BST and2:30 p.m.CEST |
ATLANTAandMADRID, Aug.6,2015 –Coca-ColaEnterprises,Inc. (“CCE”)(NYSE:CCE)(Euronext Paris:CCE),Coca-ColaIberian Partners SA(“CCIP”)and Coca-Cola Erfrischungsgetränke AG(“CCEAG”), awhollyowned subsidiaryofThe Coca-Cola Company (NYSE:KO),todayannounced theyhaveagreed tocombine theirbusinesses intoanew company tobecalled Coca-Cola European Partners Plc.,ina transformational transactionthatwill create theworld’s largestindependent Coca-Colabottlerbasedonnet revenues.Through aworld-classproduction, salesanddistributionplatformforthe Coca-Cola systeminWestern Europe, Coca-ColaEuropeanPartnerswillbepositioned todeliver superiorexecutionand customer service, driving long-termvaluecreation for shareowners.
StrategicallyPositioned to CaptureGrowth
Withmorethan 50bottlingplantsand approximately27,000associates,Coca-ColaEuropean Partnerswill serveaconsumerpopulationofover 300millionin 13countriesacrossWestern Europe, includingAndorra,Belgium,France,Germany,GreatBritain, Iceland,Luxembourg,Monaco, Norway,Portugal,Spain,SwedenandtheNetherlands.Thecombinedcompanywilloperateinthefour largestmarketsfornonalcoholic ready-to-drinkbeverages inWestern Europe–Germany,Spain,GreatBritainandFrance.
Oncecombined, Coca-ColaEuropeanPartnerswill leverageand buildonthebest practicesfromeachrespectivemarketandbottlertoimprove servicetocustomersandconsumers through amoreconsistent strategyfor
productdevelopmentandmarketexecutionacrossWestern Europe.The increased scaleandflexibilityof Coca-ColaEuropean Partners’broader Europeangeographic footprintwillallow it tocompetemoreeffectivelyacrossnonalcoholicbeverage categories.
Coca-ColaEuropean Partnersisexpected togeneratesubstantial synergies, including supply chainbenefitsandoperatingefficiencies.These synergiesareexpectedtoresultinrealizedannual run-rate pre-tax savingsofapproximately$350-375millionwithinthreeyearsof closing.Thenewcompany’s synergieswillalsoposition itforincreased investment insalesandcustomer-facingactivities todrive incremental top-lineand profitgrowthover thelong term.
Coca-Cola EuropeanPartnerswill combinetheuniquemarketknowledge ofCCE,CCIPandCCEAG,enablingincreasedcoordinationandinnovation tobetterservecustomers and consumersatalocal level in eachmarket.Asalarger and morediverse company,Coca-Cola EuropeanPartnerswillcontinuetoinvest,employ, manufactureanddistributelocally,maintainingastrongcommitmenttotheeconomicandsocialwell-being ofeachcommunityit serves.
“Thecreationofalarger,unifiedCoca-Colabottlingpartner inWesternEuroperepresentsan importantstepinourglobalsystem’sevolution,” saidMuhtarKent,ChairmanandChief ExecutiveOfficerofTheCoca-ColaCompany.“Wecontinuetoadapt ourbusinessmodel to innovate,investand growalongwith thechangingdemandsofthe marketplace.Withthe strongleadershipthatwillbeassembledfromacrossthethreeorganizations,Coca-Cola EuropeanPartnerswillbewell-positionedto deliver better andmoreeffectiveserviceto customersthroughoutWesternEuropeanddrive profitablegrowthacrossmultiplebeverage categories.”
Sol Daurella, Executive ChairwomanofCoca-ColaIberianPartners,added,“In2013,we combinedour family-ownedIberian Coca-Colabottlerswith over 60years ofhistorytobetter serve our customersandconsumers. Our Iberian shareowners seetoday’sannouncementasanimportantsteptofurther developandoptimizeourofferings inWestern Europe. Asthe single-largest shareowner inthisnewbusinesswewillplayastrong strategic roleinCoca-Cola European Partners,while continuingtobe close toour country,business, local consumersand customers. Combiningour uniqueexpertise intheon-premisechannels, targetedmarketingexperienceandoperationalexcellencewith the skillsofCCEandCCEAG,togetherwewilldrivegrowth inWesternEurope.”
“ThecreationofCoca-Cola EuropeanPartnerswillbuild oneachbottler’scapabilitiestocreatemoreefficientoperations intheirrespectivemarketsacrossWestern Europe,”saidJohnBrock, ChairmanandChiefExecutiveOfficerofCoca-Cola Enterprises.“Welook forwardto bringing togetherourworld-classsupplychainandsalesteamwith the distinctstrengthsofferedby CCIPand CCEAGtocaptureadditionalgrowthopportunitiesineachmarket. Thistransactionoffers clear synergies, alongwith thescale tobetter serve theneedsofour customers and consumersinWesternEurope,tobecomeaneven stronger partnertoTheCoca-Cola CompanyandcreateincreasedvalueforCCE’s shareowners.”
ManagementandGovernance
Ms.DaurellawillbecomeChairwomanofCoca-Cola EuropeanPartnersandMr.BrockwillbecomeChiefExecutiveOfficer.BothwillbemembersoftheBoard ofDirectors.
DamianGammell, currently BeverageGroupPresident andCEO ofAnadoluEfesandapreviousChiefExecutiveOfficerof CCEAG,will joinCCE as Chief Operating Officer inautumn2015andbecome ChiefOperatingOfficerofCoca-ColaEuropean Partnersupon closing.Manik (“Nik”) Jhangiani, currentlytheChief Financial OfficerofCCE,willbecome Coca-Cola European Partners’ ChiefFinancialOfficerand Víctor Rufart, currentlyGeneral Managerof CCIP,willbecome ChiefIntegrationOfficer.Othermembersofthenewexecutiveteamwillbeannouncedbeforetheclosing ofthe transaction.
AlongwithMs.DaurellaandMr.Brock,theinitialBoardofDirectorsofCoca-ColaEuropean Partnerswill consistof 15additionalmembers,withthemajorityofthe Boardbeing independent,non-executivedirectors.
Coca-Cola EuropeanPartnerswillbeincorporatedintheUnitedKingdom,oneofits largestmarkets,withitsheadquarters inLondon. Thecombinedcompanywillbepubliclytradedwith listingson the Euronext Amsterdam,theNewYork StockExchangeandtheMadridStock Exchange.
TransactionStructure
Atclosing, Coca-ColaIberian PartnersandTheCoca-ColaCompanywillown34%and18%of thecombined company, respectively, withCCEshareowners owning48%on afullydilutedbasis.CCEshareowners willreceive, foreach CCEshareheld,one shareofCoca-Cola European Partnersandaone-timecashpaymentof $14.50per share.The aggregateone-timecashpaymentofapproximately$3.3billionwillbefundedbythenewcompanyusingnewly issued debt.
Onapre-synergy,proformabasis,for2015thecombined company’sannualnetrevenuesareexpected tobeapproximately$12.6billionwith $2.1billionofEBITDAand$1.6billionofoperating incomewithavolumeof 2.5billionunit cases. Coca-Cola European Partners’effectivetaxrate isexpectedtobeinarangeof26to28%.
The combinedcompany isexpectedtohave a2015proformanetdebt toEBITDA ratio ofapproximately3.5x,andgivenanticipatedcashflows,isexpected tode-lever to approximately2.5xby year-end2017. Coca-ColaEuropean Partnersisfully committed toaninvestment-graderatingand intendstooperatewithina2.5x-3.0xnetdebttoEBITDA ratiolonger term.It intendstodistributedividendspershare inthe rangeofapproximately30to40%ofnet incomeover time,tobedeterminedbyitsBoardof Directors.
TheCoca-ColaCompanyexpectstoaccountfor its stakeundertheequitymethod ofaccountingand expectsthemerger tobeslightlyaccretiveto2016comparableEPS.
Insupportofthisgrowth plan,TheCoca-ColaCompanyandCoca-ColaEuropeanPartnerswillenter intoanew10-yearbottlingagreementwith an optiontorenewfor anadditional10-yearperiod.There willbe aninitialfour-year incidencepricingagreement, extendingeconomic termscurrentlyin placeineachrespective territory.
Approvals
TheBoardsofDirectorsofCoca-Cola Enterprises,Coca-ColaIberianPartnersandThe Coca-ColaCompanyhaveapprovedthetransaction.Theproposedmerger is subjecttoapprovalby CCE's shareowners,receipt of regulatory clearancesand other customary conditions.Themerger is expectedtocloseinthesecondquarterof 2016.
Advisers
Deutsche Bankactedasexclusivefinancialadviser toTheCoca-ColaCompany.Cleary GottliebSteen &HamiltonLLPactedaslegalcounsel toTheCoca-ColaCompany, and Skadden,Arps,Slate, Meagher &FlomLLPactedastaxcounselto TheCoca-ColaCompany.
Lazardacted asleadfinancialadviser toCCEand Cahill Gordon&ReindelLLPandSlaughterandMay served as legal counsel tothecompany.CreditSuisseacted asfinancialadviser to the FranchiseRelationship Committee(FRC)oftheBoardofDirectorsofCCE;ClayLongEsq.and Baker HostetlerLLP served as legal counsel totheFRC.
Rothschildacted asexclusivefinancialadviser toCoca-Cola IberianPartners. Allen &OveryLLPandUria Menendez servedas legal counsel toCoca-Cola IberianPartners.
InvestorConference CallDetails
Allthreepartieswillhost aconferencecallwithinvestors todiscusstheannouncementat8:30 a.m.EDT,1:30p.m.BSTand2:30p.m. CEST.Weinvite investorstolisten tothe liveaudiocastofthe conferencecallateitherwww.thecoca-colacompany.comorhttp://www.cokecce.cominthe “Investors” section. Further,asupplementalpresentationprovidingadditionaldetailspertainingtothe transactionandaddressingfinancialmodeling relatedquestions isposted inthe“Investors” section ofCCE’swebsite.
| Contacts Media
The Coca-Cola Company
Kent Landers
T +01.404.676.2683 Coca-Cola Enterprises, Inc.
Fred Roselli
T +01.678.260.3421 Coca-Cola Iberian Partners
Fernando Amenedo / Rosa Yagüe
T +34.915765250 Coca-Cola Erfrischungsgetränke AG
Patrick Kammerer
T +49.30.22606.9800 |
Investors and Analysts
The Coca-Cola Company
Tim Leveridge
T +01.404.676.7563 Coca-Cola Enterprises, Inc.
Thor Erickson
T +01.678.260.3110 Coca-Cola Iberian Partners
Albert Perez
T +34.915765250 |
AboutCoca-ColaEnterprises
Coca-ColaEnterprises, Inc.istheleadingWesternEuropeanmarketer,producer,anddistributorofnonalcoholic ready-to-drinkbeveragesandone oftheworld’s largest independent Coca-Colabottlers.CCE is thesolelicensedbottlerfor productsofThe Coca-ColaCompany in Belgium,continental France,GreatBritain,Luxembourg,Monaco, theNetherlands,Norway,andSweden. CCEoperateswithalocalfocusandhas17manufacturing sitesacrossEurope,wherethe company manufacturesnearly90 percentofitsproducts inthemarketsin which theyare consumed.Sustainability is coretoCCE’sbusiness,andthecompanyhasbeen recognizedbyleadingorganizations inNorthAmericaand Europefor itsprogress inwater use reduction, carbon footprint reduction,andrecycling initiatives. Formore informationabout CCE, pleasevisitwww.cokecce.comandfollowthecompanyonTwitter at@cokecce.
AboutCoca-ColaIberianPartners
Coca-ColaIberianPartnersisthebottlingpartnerofTheCoca-Cola Companyfor Spain, PortugalandAndorra. Coca-Cola IberianPartnersis responsible formeetingthedemandforThe Coca-Cola Company’sproductsat every stage:manufacturing,packaging,distributionandmanagementofthedifferent clientchannels. Coca-Cola IberianPartners,with astaffof4,380employees,distributesproductsto Spain, PortugalandAndorra, serves396,000 clientsand reachesmorethan55millionconsumers. Coca-ColaIberianPartnersmarkets17differentbrandswith81 products. Ithaseightsoftdrinkmanufacturers,oneofconcentratedjuiceand sixnaturalmineralwater springs in operation. Forfurther informationpleasevisit:www.cocacolaiberianpartners.com.
About Coca-ColaErfrischungsgetränkeAG
Coca-Cola ErfrischungsgetränkeAG(CCEAG) is thelargestGermanbeveragecompanywith asalesvolume of3.8billionliters(2014).Asafranchisee ofTheCoca-ColaCompany (Atlanta), CCEAGis inchargeof bottlingaswellas salesand distribution ofCoca-ColabrandedproductsinGermany.CCEAGservesaround400,000 trade andhorecacustomersandemploysaround9,500people.Thebeveragesarebottledatmorethan20 productionplants.
AboutTheCoca-Cola Company
The Coca-ColaCompany (NYSE:KO) is theworld's largestbeverage company, refreshing consumerswithmorethan500sparklingandstillbrands.Led byCoca-Cola,one oftheworld'smostvaluableandrecognizablebrands,ourCompany'sportfoliofeatures20billion-dollarbrandsincluding DietCoke,Fanta,Sprite,Coca-Cola Zero,vitaminwater,Powerade,MinuteMaid,Simply, Georgia andDel Valle.Globally,we arethe No.1 providerofsparklingbeverages, ready-to-drink coffees,andjuicesandjuice drinks.Throughtheworld's largestbeveragedistributionsystem,consumersinmore than200countriesenjoyour beveragesata rateof 1.9billionservings a day.Withanenduring commitment to building sustainable communities,our Company isfocusedoninitiativesthatreduceour environmental footprint, supportactive,healthy living, createasafe, inclusivework environment for ourassociates,andenhance theeconomicdevelopmentofthe communitieswhereweoperate.Togetherwith ourbottlingpartners,werankamongtheworld'stop10 privateemployerswithmorethan700,000 system associates.Formore information,visitCoca-ColaJourneyatwww.coca- colacompany.com, followusonTwitter at twitter.com/CocaColaCo,visit our blog,Coca-Cola Unbottled,atwww.coca-colablog.comorfindusonLinkedInatwww.linkedin.com/company/the-coca-cola-company.
Forward-LookingStatements
This communicationmaycontain statements, estimates orprojectionsthatconstitute“forward-looking statements” as definedunderU.S.federalsecurities laws.Generally,thewords“believe,”“expect,”“intend,”“estimate,”“anticipate,”“project,”“plan,”“seek,”“may,”“could,”“would,”“should,”“might,”“will,”“forecast,”“outlook,”“guidance,”“possible,”“potential,”“predict” and similarexpressionsidentifyforward-lookingstatements,which generallyarenothistoricalin nature.Forward-lookingstatements are subjectto certainrisks and uncertaintiesthatcould causeactualresultstodiffermateriallyfromTheCoca-Cola Company’s(“KO”),Coca-Cola Enterprises,Inc.’s (“CCE”) orSparkOrangeLimited’s(“CCEP”) historical experience andtheirrespective present expectationsorprojections,including expectations orprojectionswithrespecttothetransaction. Theserisksinclude, but arenotlimitedto, obesity concerns;waterscarcityand poor quality; evolving consumer preferences; increased competition and capabilities inthemarketplace;product safetyand quality concerns; perceived negative healthconsequences of certain ingredients, suchas non-nutritive sweeteners and biotechnology-derived substances,andofothersubstances presentintheir beverageproductsor packagingmaterials;increased demandforfoodproducts anddecreasedagriculturalproductivity; changes intheretaillandscape ortheloss ofkey retail orfoodservice customers; aninabilitytoexpand operationsinemergingordevelopingmarkets;fluctuationsinforeign currency exchangerates;interestrate increases; aninabilitytomaintain goodrelationshipswiththeirpartners; a deteriorationintheir partners’financial condition;increases inincometaxrates, changesin incometax laws orunfavorableresolutionoftaxmatters;increasedornewindirecttaxesintheUnitedStates orin othertaxjurisdictions;increasedcost, disruption ofsupply orshortage ofenergyorfuels;increased cost, disruptionofsupply orshortage of ingredients,otherrawmaterialsor packagingmaterials; changesinlaws andregulationsrelatingtobeverage containers andpackaging; significant additionallabeling orwarningrequirementsorlimitations ontheavailability oftheirrespectiveproducts; aninabilitytoprotecttheirrespective information systemsagainstservice interruption,misappropriation ofdataorbreaches ofsecurity; unfavorable general economic orpolitical conditionsintheUnitedStates,Europeor elsewhere;litigationorlegal proceedings; adverseweather conditions; climate change;damagetotheirrespective brandimages and corporatereputationfromnegative publicity, even ifunwarranted,relatedtoproduct safetyorquality, humanandworkplacerights, obesityor otherissues; changesin,orfailureto complywith,thelaws andregulationsapplicabletotheirrespective productsor business operations; changes in accountingstandards; aninabilitytoachievetheirrespectiveoveralllong-term growth
objectives; deterioration ofglobalcreditmarketconditions; defaultbyorfailureofoneormoreof theirrespective counterpartyfinancialinstitutions; aninabilitytotimelyimplementtheirpreviously announced actionstoreinvigorate growth,ortorealizethe economic benefitstheyanticipatefromtheseactions;failure torealize asignificant portionoftheanticipated benefits oftheirrespectivestrategicrelationships,including(withoutlimitation)KO’srelationshipwithKeurigGreenMountain,Inc.andMonsterBeverage Corporation; aninabilitytorenew collective bargaining agreementsonsatisfactoryterms, ortheyortheirrespective partnersexperience strikes,workstoppages orlaborunrest;futureimpairment charges;multi-employer planwithdrawalliabilities inthefuture; aninabilitytosuccessfullymanagethe possible negative consequencesoftheirrespectiveproductivityinitiatives; globalorregional catastrophic events;risks and uncertaintiesrelatingtothetransaction,includingtheriskthatthe businesseswill notbe integratedsuccessfully orsuchintegrationmaybemore difficult,time- consumingor costlythanexpected,which could resultin additional demands onKO’s orCCEP’sresources, systems,procedures andcontrols, disruption of itsongoing business and diversionofmanagement’s attentionfromother business concerns,thepossibilitythat certain assumptionswithrespecttoCCEP orthetransaction could proveto beinaccurate,thefailuretoreceive, delays inthereceiptof, orunacceptable orburdensome conditionsimposedin connectionwith, allrequiredregulatory approvals andthe satisfaction oftheclosing conditionstothetransaction,thepotentialfailure toretain keyemployees ofCCE,Coca-ColaIberianPartners,S.A.’s(“CCIP”) as aresult ofthe proposedtransactionor duringintegrationofthebusinesses and disruptionsresultingfromthe proposedtransaction,makingitmoredifficulttomaintain businessrelationships; andotherrisks discussed inKO’s and CCE’sfilingswiththeSecurities andExchange Commission(the“SEC”),includingtheirrespectiveAnnualReports onForm 10-Kforthe year ended December31,2014, subsequentlyfiledQuarterly Reports onForm 10-QandCurrentReportson Form8-K,whichfilings are availablefromtheSEC.You should not place unduereliance on forward-looking statements,which speak onlyasofthe datethey aremade.None ofKO,CCE,CCIPor CCEP undertakes anyobligationto publicly updateorrevise any forward-lookingstatements,whetherasa resultofnewinformation,future events,orotherwise.Noneof KO,CCE,CCIP or CCEP assumesresponsibilityforthe accuracy and completeness ofanyforward-looking statements.Anyoralloftheforward-lookingstatements contained inthisfiling and in anyotheroftheirrespective publicstatementsmayproveto be incorrect.
ImportantAdditionalInformationandWhere to FindIt
Thiscommunication doesnot constituteanoffer to sell orthesolicitationofanoffertobuyany securitiesorasolicitation of anyvoteorapproval.
In connectionwiththeproposedtransaction,CCEPwillfilewiththeSEC aregistrationstatement on Form F-4thatwillinclude apreliminaryproxystatement/prospectusregardingtheproposedtransaction.Afterthe registrationstatement hasbeen declared effectivebytheSEC, adefinitiveproxy statement/prospectuswill bemailedto CCE’s stockholdersinconnectionwiththeproposedtransaction.INVESTORSAREURGED TOREAD THEPROXYSTATEMENT/PROSPECTUS(INCLUDINGALLAMENDMENTSANDSUPPLEMENTS THERETO)ANDOTHERDOCUMENTSRELATINGTOTHE TRANSACTIONFILEDWITH THESECWHEN THEYBECOMEAVAILABLE,BECAUSE THEY WILLCONTAINIMPORTANTINFORMATIONABOUT THEPROPOSED TRANSACTION.Youmayobtain a copyofthe proxystatement/prospectus(when available)and otherrelated documentsfiled byKO,CCE orCCEPwiththeSECregardingtheproposedtransaction aswell asotherfilings containinginformation,freeof charge,throughthewebsitemaintained bytheSECatwww.sec.gov, bydirecting arequesttoKO’sInvestorRelations departmentat(404) 676-2121,orto CCE’sInvestorRelations department at(678) 260-3110,Attn: ThorErickson –InvestorRelations.Copies oftheproxy statement/prospectus andthefilingswiththeSECthatwill beincorporated byreferenceintheproxy statement/prospectus can also beobtained,whenavailable,without charge,fromKO’swebsite at
www.coca-colacompany.com underthe heading“Investors” and CCE’swebsite atwww.cokecce.com underthe heading“Investors.”
ParticipantsinSolicitation
KO,CCE and CCEP andtheirrespective directors,executiveofficersandcertainothermembersofmanagementandemployeesmay bedeemedtobe participantsinthesolicitationofproxies infavoroftheproposedmerger. Informationregardingthepersonswhomay, undertherulesoftheSEC,be considered participants inthesolicitationofproxies infavoroftheproposedmergerwill be setforth intheproxystatement/prospectuswhenitisfiledwiththeSEC.You canfindinformationaboutKO’sandCCE’sdirectorsandexecutiveofficersintheirrespective definitive proxystatementsfiledwiththeSEC onMarch12,2015, and March11, 2015,respectively.Youcan obtainfreecopiesofthese documentsfromKOandCCE,respectively,usingthecontact informationabove.InformationregardingCCEP’s directorsandexecutiveofficerswill be available intheproxystatement/prospectuswhenitisfiledwiththeSEC.
No Profit Forecast
No statementinthis announcementisintendedto constitute aprofit forecastforanyperiod, nor should anystatements beinterpretedtomeanthatrevenues,EBITDA, earningspershareoranyothermetricwill necessarily begreaterorlessthanthosefortherelevant precedingfinancial periodsforCCE,CCIP,Coca-ColaErfrischungsgetränkeAG(“CCEAG”) orCCEP,asappropriate.Nostatementinthis announcement constitutes anassetvaluation.
Subjecttoits legal and regulatoryobligations,neitherCCEP,nor anyof itsagents,employeesor advisorsintendsorhasany dutyorobligationtosupplement,amend,updateorrevise anyofthe statementscontained inthisdocumenttoreflectany change inexpectations withregardtheretoorany change in events, conditionsorcircumstances onwhich anystatementisbased.In nocircumstances shalltheprovision ofthisdocumentimplythatnonegative changemayoccurinthe businessofCCE,CCIP,CCEAG or CCEP,as appropriate, afterthedateofprovisionofthisdocument,orany dateof amendmentand/oradditionthereto.
This documentisnot aprospectusforthe purposes oftheProspectusDirective. A prospectusprepared pursuanttotheProspectus Directiveisintendedto bepublished,which,when published,will be availablefrom CCEP at itsregisteredoffice. Investors should not subscribeforanysecuritiesreferredto inthis document exceptonthebasisofinformation containedintheprospectus.The expression“Prospectus Directive”means Directive 2003/71/EC(andamendmentsthereto,includingDirective 2010/73/EU,tothe extentimplementedin anyrelevantMemberState) and includes anyrelevantimplementingmeasureintherelevantMemberState.Anyoffer ofsecuritiestothe public thatmaybe deemedto bemade pursuanttothis communicationin anyEEAMemberStatethathas implementedtheProspectusDirectiveisaddressed solely toqualifiedinvestors(withinthemeaningoftheProspectusDirective)inthatMemberState.
NOTFORRELEASE,PUBLICATIONORDISTRIBUTION,INWHOLEORINPART,IN,INTO OR FROMANY JURISDICTIONWHERETODOSOWOULDCONSTITUTEAVIOLATIONOF THERELEVANT LAWSORREGULATIONSOFSUCH JURISDICTION.
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