Coca-Cola Amatil Ltd.'s manufacturing sites in the Australian cities of Adelaide and Perth are expected to fetch between A$150 million and A$200 million, The Australian Financial Review reported, citing market sources.
The Australia-listed beverage company is selling the facilities in Adelaide's Thebarton suburb and in Perth's Kewdale suburb separately with the help of Colliers International, the paper noted. Divestment of the 65-year-old Thebarton property is expected to be settled by 2018-end, while the Kewdale asset is being marketed through a sale-and-leaseback transaction to recycle capital.
A spokesperson for the company was quoted in the May 23 report as saying that the sale of the properties come as Coca-Cola Amatil reviews options for all of its properties Down Under. The report noted the beverage company has already made steps in its rationalization that will see it apply a sale-and-leaseback strategy for its properties to offset costs.
