Allen & Overy is advising Spanish bottling company Coca-Cola Iberian Partners on its merger with the U.S. publicly listed bottling company Coca-Cola Enterprises Limited and the private German bottling company Coca-Cola Erfrischungsgetränke, a wholly owned subsidiary of The Coca-Cola Corporation (Coca-Cola), to form a new UK company Coca-Cola European Partners Plc.

The transformational transaction will create the world’s largest independent Coca-Cola bottler (based on net revenues) serving a population of over 300 million in 13 territories across Western Europe.

Coca-Cola European Partners Plc will be incorporated in the UK, one of its largest markets, with headquarters in London. It will be publicly traded on the Amsterdam Euronext, the New York Stock Exchange and the Madrid Stock Exchange.

The enlarged company is expected to generate substantial synergies, including supply chain benefits and administrative cost reductions.

Coca-Cola Iberian Partners will become the single largest shareowner in Coca-Cola European Partners Plc, and brings 60 years of history and experience operating in Spain, Portugal and Iceland to the larger company.

Allen & Overy partner Ed Barnett who, together with NY partner Eric Shube, is leading the A&O global team commented: “This was an extremely complex cross-border transaction involving three very established entities with strong brand equity coming together to create a new company that will deliver significant synergies and drive profitable growth.”

Ed adds: “We are delighted to have advised Coca-Cola Iberian Partners on this strategic deal and it is a privilege to be involved in laying the foundations for its future growth as part of Coca-Cola European Partners.”

The Allen & Overy cross-border, cross-practice team spans London, New York, Frankfurt, Amsterdam, Paris Luxembourg and Brussels. The A&O team is being led by M&A partners Ed Barnett (London) and Eric Shube (New York) and senior M&A associates Tara Rajah, Michael Maier and Monika Przygoda. Dave Lewis (New York) is leading on U.S. tax advice. German partners Matthias Horn and Hans-Peter Loew are advising on the contribution of the German bottler Coca-Cola Erfrischungsgetränke.

Other A&O partners advising on the transaction include London partners Sarah Henchoz (Employment), James Roe (ECM), Chris Harrison (Tax) Alasdair Balfour (Antitrust) and in Amsterdam Justin Steer (ECM).

The proposed merger is subject to approval by Coca-Cola Enterprises Limited’s shareowners, receipt of regulatory clearances and other customary conditions. The merger is expected to close in the second quarter of 2016.