Coca-Cola Amatil cuts SPC’s value to zero ahead of sale

Soft drink giant Coca-Cola Amatil has written down the value of its SPC canned fruit and vegetable operations to zero, reflecting the slim sale price it expects to receive if it offloads the business.
CCA said in August it was reviewing the future of the business and in November confirmed it would seek to sell SPC, which it expects to run at a $10 million loss this year, despite a $100 million co-investment with the Victorian government over four years to improve its viability. Sydney Morning Herald – Read more…