"The most logical play is to follow the lead of a fellow...

"The most logical play is to follow the lead of a fellow Coca-Cola bottler, Philippine-based-San Miguel, which announced earlier this year it had sold its Coca-Cola bottling operations back to the Coca-Cola Co (TCCC) in the US. Coca-Cola Amatil will not comment on any strategic plans."
Is this the whole CCL operation or just the S.Korean business? I have not heard of this strategy being discussed before. Nor would I think KO would want 100% ownership of the bottler.

"To put it into perspective, CCA's share price has underperformed the S&P/ASX200 by more than 40 per cent."
With a p/e of 19, it seems like a good time to enter. Good growth options (dairy and non carbonated soft drinks) and strong brand.