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The Coca-Cola Company Message Board

  • cash2burn cash2burn Aug 12, 1998 2:57 AM Flag

    Amatil sees 1999 S. Korea eps dilution.

    Amatil Ltd.,a coca-cola bottler in Sidney
    Australia expects (eps) dilution in the 1999 calander year
    from its newly acquired S.Korean assets. Managing
    director, David Kennedy, states that 1998 volumes will be
    lower than 1997;earnings in '98, because of cost cuts
    and a stronger currency,would meet expectations.The
    Co. had predicted a cash operating profit of $9.3
    millionfrom S. korea and a trading loss of $12 millionAwith
    the $460.5 million purchase from major shareholder
    Kennedy doesn't know exactly what impact the
    floods in S. Korea will have on Amatil Ltd. however,
    Kennedy says that he expects to know within 30-60 days
    what will be the full impact of the floods and the
    downturn in business .
    Amatil completed the Korean
    acquisition Aug. 6, buying the assets from coca-cola for
    A$975.2 million, made up of 142.2 millionC-C Amatil
    shares. This lifted coca cola's stake in c-camatilto
    42.89%from 33.36%.

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