Coca-Cola eyes Croatian water bottling company | Progresiv

Croatian food-to-retail consortium Agrokor is planning to sell the Jamnica water bottling company to Coca-Cola. Sources told Croatia’s T-Portal that the two sides have already entered into negotiations, which are stuck on the asking price. Allegedly, Agrokor is seeking 15 times Jamnica’s EBITDA or 793 million euros.

However, if the current value of the company on the stock exchange is taken into account, Jamnica is worth only 383 million euros.

Another source, this time from Agrokor, claims that the company is asking 800 million euros for Jamnica, but Coca-Cola is offering a maximum of 500 million euros, which is in line with the average value of takeovers in the industry.

Neither Coca-Cola and Agrokor have not commented on the news.

The Croatian bottling company has a concession for the Saint Jana source that, in the case of sale, would be given to Coca-Cola.

Agrokor owns 76.6% of the shares of Jamnica, while the second largest owner is the Croatian state with 5.5%. (www.esmmagazine.com)