Gold prices bounce off 3-week lows; demand likely longer term
LONDON - Coca-Cola (NYSE:KO) Europacific Partners plc (CCEP) announced a share buyback program set to commence on Monday, aiming to repurchase up to €1 billion worth of shares. This move is intended to reduce the company's issued share capital, with the program expected to conclude by the end of February 2026.
The buyback will take place across various trading venues, including Nasdaq and other applicable U.S. trading platforms, as well as the London Stock Exchange (LON:LSEG) and other European venues. The company has entered into contracts with Goldman Sachs & Co (NYSE:GS). LLC and Goldman Sachs International to facilitate the initial phase of the buyback, which will operate independently of CCEP's influence.
The repurchase authority was granted by shareholders at CCEP's 2024 Annual General Meeting and may be extended at the 2025 Annual General Meeting. The buyback will adhere to market regulations in both the U.S. and the U.K., including the Market Abuse Regulation and the UK Listing Rules.
The maximum number of shares to be bought back during the initial period, which extends until the day after the 2025 Annual General Meeting, is 46,027,917. This phase of the program is allocated €275 million, with up to €55 million dedicated to purchases on the London Trading Venues, expected to be completed by May 16, 2025.
CCEP, listed on multiple stock exchanges including Euronext (EPA:ENX) Amsterdam and NASDAQ, operates in 31 countries, serving nearly 600 million consumers. The company's announcement includes cautionary notes on forward-looking statements, highlighting potential risks that could cause actual results to differ from projections.
This share buyback program is based on a press release statement from Coca-Cola Europacific Partners plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.