Press release from Pripps Ringnes AB and The Coca-Cola Company
The Coca-Cola Company and Pripps Ringnes AB have now signed a definitive agreement on the termination of their collaboration. In all essential respects, the agreement is based on the letter of intent signed in June 1996, although some changes have been made in the transitional periods.
As announced previously, Coca-Cola Drycker Sverige AB (CCDS) will become responsible for sales and distribution in Sweden with effect from April 1, 1997, while production by Pripps will continue through December 31, 1997.
In Norway collaboration on sales and distribution will continue until October 1, 1997. At that point in time Coca-Cola Beverages Norway AS (CCBN) will be responsible for sales and distribution. Ringnes will be responsible for production until September 1, 1998 with an option for CCBN to extend the period until December 31, 1998.
The financial terms of the definitive agreement are substantially the same as outlined in the letter of intent, with the exception of the effect of revised production periods.
In the transitional period the two parties will continue to work closely in order to assure optimal service to customers and consumers.