Coca-Cola to buy UK coffee chain Costa for $5.1 billion

Published On: August 31, 2018 12:13 PM NPT By: Agencies

Aug 31: 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 ($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 when it had only 39 shops.

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