Sale of Costa to Coca-Cola for £3.9b now complete

The sale of coffee giant Costa by Whitbread to the Coca-Cola Company for £3.9b has completed.

Whitbread now intends to start a share buyback programme, which is likely to follow the release of the company's third quarter trading update on 17 January 2019.

Whitbread has also reached an agreement with the trustee of the group's defined benefit pension scheme, which will release Costa from its obligations to the fund and will involve a one-off contribution to the fund of up to £380m.

Alison Brittian, Whitbread's chief executive, was recently appointed a CBE in the New Year's Honour List 2019.

Alison Brittain of Whitbread and chef Thomasina Miers recognised in New Year's Honours 2019 >>

Whitbread cleared to sell Costa to Coca-Cola >>

Costa Coffee sold by Whitbread to Coca Cola in £3.9b deal >>

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