Business Standard

Britain's Whitbread to sell Costa Coffee to Coke for $5.1 billion


(Reuters) - Britain's Whitbread Plc said on Friday it had agreed to sell coffee chain Costa to Coca Cola for an enterprise value of 3.9 billion pounds ($5.1 billion).
The deal was unanimously agreed by the Whitbread board to be in the best interests of shareholders, the company said in a statement. It acquired the chain in 1995, for 19 million pounds when it had only 39 shops.
($1 = 0.7679 pounds)
(Reporting by Sangameswaran S in Bengaluru; editing by Kate Holton)

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First Published: Aug 31 2018 | 11:57 AM IST

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