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Coca-Cola Amatil Ltd (ASX:CCL) and international brewer SABMiller have amended the terms of their Pacific Beverages joint venture.
The amendment has been made to open up the way for SABMiller to acquire majority control of Foster’s Group Ltd (ASX:FGL) should its bid for Australia’s largest brewer be successful.
Coca-Cola says the existing JV limits SABMiller’s ability to acquire shares in Foster’s in its own right.
Coca-Cola has confirmed that it does not intend to make offers to acquire shares in Foster’s in its own right, or as a passive minority shareholder.
Shares in Coca-Cola rose 1.24 per cent yesterday to close at $11.46.
In the 2010 financial year Coca-Cola generated a net profit of $497 million.
