AUSTRALIA: SPC Ardmona shareholders back Coca-Cola Amatil bid
Australian fruit processor SPC Ardmona has announced that its shareholders have overwhelmingly voted to support the proposed acquisition of SPC Ardmona by soft drinks company Coca-Cola Amatil (CCA).
In addition, SPC Ardmona's chairman, David Meiklejohn, confirmed that regulatory approvals of the proposed scheme of arrangement had been received from the Australian Securities and Investments Commission and the Australian Stock Exchange.
He also confirmed that CCA had received advice from the Australian Competition and Consumer Commission and the Foreign Investment Review Board that there were no objections to the proposed transaction.
"We are very pleased with the strong support received today from our shareholders for the Coca-Cola Amatil proposal in what marks an important step in the ongoing development of the SPC Ardmona business," Meiklejohn said.
The last remaining approval is that of the Supreme Court of Victoria. A court hearing is scheduled for 11 February.
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