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Aboitiz, partner agree to buy Coca-Cola PH for $1.8 billion
Aboitiz, partner agree to buy Coca-Cola PH for $1.8 billion.....»»
Aboitiz chief tracks techglomerate journey
Aboitiz Group president and CEO Sabin Aboitiz brought a wealth of knowledge and transformative leadership insights to the esteemed 21st Forbes Global CEO Conference in Singapore on 11 September. The conference, themed “Sea Change,” provided a platform for Aboitiz to share his vision and expertise as he spearheads the Aboitiz Group’s journey toward becoming the maiden techglomerate in the country. The Forbes Global CEO Conference is an annual gathering of influential leaders and visionaries who engage in insightful discussions and brainstorming sessions about the global economic landscape. Approximately 500 distinguished CEOs, thought leaders, entrepreneurs and investors attended this year’s conference to navigate the ever-evolving waves of economic transformation. Aboitiz, standing alongside notable leaders in Asia, participated in a thought-provoking panel entitled “Captains Courageous,” which explored the themes of courage and leadership. Distinguished peers His fellow panelists included Binod K. Chaudhary, chairman of CG Corp Global; Mike Federle, CEO of Forbes Media; Nuno Matos, CEO of Wealth and Personal Banking at HSBC; and Arsjad Rasjid, president director of Indika Energy and chairman of the Indonesian Chamber of Commerce and Industry. The panel conversation delved into the intricacies of courage and leadership, offering profound insights into the mindset of successful CEOs and the principles that have shaped their illustrious careers. Forbes assistant managing editor Diane Brady posed thought-provoking questions encouraging panelists to share their most courageous decisions, reflect on moments when their courage faltered, and acknowledge the influential leaders who have guided their paths. Drawing upon his extensive and exemplary leadership experience across various roles and companies within the Aboitiz Group, Aboitiz imparted invaluable wisdom on the concept of courage. He emphasized that courage takes on different meanings depending on individual circumstances and available options. “Courage means different things to different people depending on who they are or what situation they’re in,” Aboitiz stated. “Just like being generous means different things to different people. Courage is what you’re willing to give up, depending on the situation you’re in. If you’ve got lots of options, then frankly, you’re not that courageous. If you have no options, the more you have to lose, the more courageous you are,” he added. Following his engaging participation in the high-profile conference, Aboitiz was interviewed by CNBC Asia where he provided insights on how the Aboitiz Group is embarking on its Great Transformation journey. There was also huge interest in the recent partnership of Aboitiz Equity Ventures Inc. with Coca-Cola Europacific Partners PLC to acquire Coca-Cola Beverages Philippines Inc. for $1.8 billion. It will be a joint venture where CCEP would be the majority owner at 60 percent while AEV will own 40 percent. This is in line with the direction to diversify a bit more into retail. “This goes back to our strategy to move a little out of one industry which is power and diversify a little bit into retail. Coca-Cola is the best brand in the world, so we thought that it would be the best way to move into the beverage and into more retail direction to be able to balance our portfolio,” Aboitiz explained. As the lead convenor of the Private Sector Advisory Council, Aboitiz also highlighted the importance of the private sector’s involvement especially in digitizing government services which President Ferdinand “Bongbong” Marcos Jr. had been advocating. The post Aboitiz chief tracks techglomerate journey appeared first on Daily Tribune......»»
$1.8-billion Aboitiz, Coke deal still under PCC review
The Philippine Competition Commission or PCC is monitoring the recently reported intention of Aboitiz Equity Ventures Inc. or AEV to acquire minority stakes in Coca-Cola Beverages Philippines or CCBP under a $1.8-billion cash joint venture deal with Coca-Cola Europacific Partners or CCEP. In an email on Friday, the competition watchdog said it is still determining if the parties involved have properly met the required threshold for their transaction. As of the end of the first quarter, all mergers and acquisitions that breach a P7-billion size of party and P2.9-billion size of transaction should be reviewed by the PCC. The PCC’s merger review thresholds are adjusted annually relative to the size of the economy. While this is ongoing, the PCC likewise noted that it may also ask its Mergers and Acquisitions Office or MAO to conduct an initial assessment if the effects of the transaction warrant a motu proprio review. “This review will determine if the transaction may result in a substantial lessening of competition in the relevant markets,” it said. The PCC’s MAO provides pre-notification consultations for parties contemplating a merger to address queries about the merger review process. During consultations, the parties may seek non-binding advice on the specific information needed for the notification. Early this month, AEV and CCEP signed a non-binding Term Sheet with The Coca-Cola Company, which is currently divesting its CCBP interests. The parties are now in advanced discussions regarding the potential joint transaction, where CCEP would be the majority owner with a 60 percent stake. AEV, on the other hand, would take up the remaining 40 percent non-controlling interest. The AEV, however, clarified that since the buyout is still subject to several conditions, the transaction has no guarantee that it would proceed until closing. These conditions include satisfactory completion of confirmatory due diligence which is well underway, receipt of AEV and CCEP’s board approvals, and the parties signing the definitive agreements. However, assuming that the plan pushes through, AEV expects that the deal could be closed by the end of the year, subject to the approval of the Philippine Competition Commission. CCEP is a global consumer goods company serving 600 million consumers and helping 1.75 million customers across 29 countries grow their businesses. On the other hand, the AEV of the Aboitiz family has major investments in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence. In the first half of the year, AEV reported an 11 percent decline in its net income. It only booked a bottom line profit of P10.5 billion during the period, from last year’s P11.8 billion. The post $1.8-billion Aboitiz, Coke deal still under PCC review appeared first on Daily Tribune......»»
Aboitiz Equity Ventures trying to buy Coca-Cola Beverages Philippines
Aboitiz Equity Ventures announced that it has signed a letter of intent with Coca-Cola Europacific Partners PLC to purchase 100% of Coca-Cola Beverages Philippines (CCBP) from The Coca-Cola Company (Coke) for US$ 1.8 billion (~P100 billion)......»»
AEV eyes Coke under $1.8-B deal
Aboitiz Equity Ventures Inc., or AEV, the investment arm of the Aboitiz Group, signified its intention to acquire minority stakes in Coca-Cola Beverages Philippines or CCBP under a $1.8-billion cash joint venture deal with Coca-Cola Europacific Partners or CCEP. In Philippine Stock Exchange report on Wednesday, AEV and CCEP have signed a non-binding Term Sheet with The Coca-Cola Company, which is currently divesting its CCBP interests. The parties are now in advanced discussions regarding the potential joint transaction, where CCEP would be the majority owner with a 60 percent stake. AEV, on the other hand, would take up the remaining 40 percent non-controlling interest. Still iffy The AEV, however, clarified that since the buyout is still subject to several conditions, the transaction has no guarantee that it would proceed until closing. These conditions include satisfactory completion of confirmatory due diligence which is well underway, receipt of AEV and CCEP’s board approvals, and the parties signing the definitive agreements. However, assuming that the plan pushes through, AEV expects that the deal could be closed by the end of the year, subject to the approval of the Philippine Competition Commission. CCEP is a global consumer goods company serving 600 million consumers and helping 1.75 million customers across 29 countries grow their businesses. On the other hand, the AEV of the Aboitiz family has major investments in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence. The post AEV eyes Coke under $1.8-B deal appeared first on Daily Tribune......»»
Aboitiz to buy Coke Philippines for $1.8 billion
The Aboitiz Group, the Cebu-based conglomerate currently led by Sabin Aboitiz, has partnered with Coca-Cola Europacific Partners PLC (CCEP) to acquire Coca-Cola Beverages Philippines Inc. (CCBPI)......»»
Coca-Cola eyes more price hikes in emerging markets
Coca-Cola lifted its full-year earnings targets Wednesday after second-quarter results topped estimates as it described plans to limit additional price hikes to emerging markets with the most intense inflation. The soda giant reported profits of $2.5 billion, up 34 percent from the year-ago period on a six percent increase in revenues to $12 billion. While volumes were flat, revenues were bolstered by a 10 percent jump in Coca-Cola's "price/mix" benchmark, reflecting retail price increases as well as the composition of sales by venue and pack mix. Inflation in developed markets like North America and Western Europe "is beginning to moderate," said James Quincey, chief executive of Coca-Cola, which has undertaken a series of price hikes over the last 18 months. In contrast, in many emerging markets "consumers are more accustomed to persistent inflation," Quincey said on a conference call, noting that five of the soda giant's top 40 markets have inflation above 20 percent. "In the developed markets, we've got through the pricing that needed to be taken in 2023," Quincey said. "In developing and emerging markets, we aim to take price with local market inflation," said Quincey, who included Turkey and Pakistan among the "hyperinflationary" countries. Coca-Cola lifted several 2023 financial targets and now sees earnings per share growth of nine to 11 percent excluding currency effects, up from the prior range of seven to nine percent growth. Shares of Coca-Cola rose 1.1 percent to $62.96 in afternoon trading. The post Coca-Cola eyes more price hikes in emerging markets appeared first on Daily Tribune......»»
Coca-Cola to Invest P3-B in PH
Coca-Cola Beverages Philippines, Inc. (CCBPI) announced a USD63 million (PHP3.06 billion) investment in the Philippines in 2021 for upgrades to its various factories in the country. According to CCBPI president and chief executive officer Gareth McGeown, the funds will go to continued efforts to increase capacity. “The USD63 million investment will primarily go to continuing […].....»»
Coca-Cola investing $63m in PH this year
Coca-Cola Philippines on Tuesday announced another $63-million (roughly P3.06 billion) worth of local investments this year......»»
BOI OKs Coca-Cola’s PET recycling facility project
The Board of Investments has approved the P2.3 billion PETValue recycling facility project of Coca-Cola Beverages Philippines Inc. and Indorama Ventures Packaging Corp. in Cavite......»»
Coca-Cola investing additional P1 billion into Philippines
Coca-Cola Beverages Philippines Inc. has made an additional investment of $22 million or approximately P1.1 billion to set up new production lines in the country......»»
Sy family invests P5 billion in Megawide affiliate
The Sy family is once again playing a big brother role to a company led by businessman Edgar Saavedra, this time investing in Megawide’s affiliate renewable energy real estate investment trust......»»
Man-made disasters cost Philippines 164.87 mln USD in 2023
MANILA, March 26 (Xinhua) -- Man-made disasters caused the total damage in the Philippines worth 9.29 billion pesos (164.87 million U.S. dollars) in 2023, the Philippine Statistics Authority (PSA) said Tuesday. The agency said that out of the total annual damage, 4.93 billion pesos (87.5 million dollars), or 53.1 percent, was due to the oil spill. "The reported oil spill in various regions resulted in dam.....»»
PSALM expects P100 billion from CBK privatization
The Power Sector Assets and Liabilities Management Corp. (PSALM) is expected to generate as much as P100 billon from the privatization of the 796.46-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex in Laguna, bolstering the cash position of the cash-strapped state firm......»»
Philippine bond market hits $217 billion in Q4
The Philippine bond market went up slightly in the fourth quarter of 2023 due to the increase in government bond issuances, according to a report from the Asian Development Bank......»»
PBCom eyes P2 billion from new bond issue
The Philippine Bank of Communications is looking to raise at least P2 billion, with an option to oversubscribe, from the first tranche of its new peso bond program......»»
Losses to Philippine agriculture due to El Nino reach 31 mln USD
MANILA, March 20 (Xinhua) -- The El Nino dry spell and ensuring drought have caused over 1.75 billion pesos (roughly 31 million U.S. dollars) in damage to Philippine agriculture, a senior government official said Wednesday. This year's losses due to El Nino are still low compared to 2009 when the damage to agriculture reached 17 billion pesos (302 million dollars), Presidential Communications Office Assistant Se.....»»
Coca-Cola to invest US$1B more in PH
Coca-Cola to invest US$1B more in PH.....»»
EPR Initiatives: the case of Coca Cola
EPR Initiatives: the case of Coca Cola.....»»
Coca-Cola to invest add l $1B in PH
Coca-Cola to invest add l $1B in PH.....»»