(Adds details, PAI's no comment)
AMSTERDAM, April 12 Dutch drinks bottler
Refresco said on Wednesday it had rejected a 1.4
billion euro ($1.5 billion) takeover offer from French private
equity investor PAI Partners after its board concluded the offer
"Refresco has informed PAI that the proposed terms and
conditions did not merit any further investigation and have
accordingly rejected the proposal," the company said. PAI
declined to comment.
Refresco's shares jumped 9 percent to 16.52 euros as of 1319
GMT, which valued the company at around 1.3 billion euros.
Refresco, which was founded in 1999 and floated two years
ago, makes and bottles fruit juices and soft drinks for
retailers and brands in Europe and the United States.
The company employs 5,500 people and has production
facilities in the Benelux countries, Finland, France, Germany,
Italy, Poland, Britain and the United States.
In 2016, it reported a net profit of 81.5 million euros on
revenue of 2.1 billion euros.
($1 = 0.9432 euros)
(Reporting by Thomas Escritt; editing by Jason Neely and Susan