Coca Cola interested in Jamnica, Todoric asking for nearly EUR 800 million?

As the Croatian Tportal reports, Coca-Cola and Agrokor have entered negotiations about the sale of Jamnica, which have stalled on the price the concern is asking for for its flagship brand.

Tportal learns from various sources that Agrokor is asking Coca-Cola for 15 amounts of EBITDA. In other words, Todoric is asking for about HRK 5.9 billion (around EUR 790 million) for Jamnica, whereas the company's current market cap at the Zagreb Stock Exchange stands at around HRK 2.9 billion (around EUR 390 million). Tportal says that the average takeover price for the non-alcoholic beverage sector is 9.63 amounts of the annual EBITDS indicator.

Another source of the portal states that Todoric is asking for EUR 800 million (HRK 6 billion), while Coca-Cola is offering no more than EUR 500 million, or HRK 3.75 billion.

At the end of September, Jamnica's long-term liabilities amounted to HRK 65.6 million, whereas its short-term liabilities exceeded HRK 1 billion. Still, Jamnica's greatest burden are the guarantees the company has towards Agrokor's companies, which reached EUR 840 million in mid-December 2016.

The shares of Jamnica jumped by 9.2% at the Zagreb Stock Exchange on Thursday, February 16, 2017, with an excellent turnover of HRK 3.8 million (EUR 510,000), Wisebroker reports.

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Fortenova grupa d.d.

JAMNICA d.d. Zagreb

Zagrebačka burza d.d. Zagreb

Coca Cola

Jamnica

Ivica Todoric

sale of Jamnica

acquisition of Jamnica

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