FTSE LIVE: Coca-Cola buys Costa Coffee; Frankie & Benny’s owner serves up profit slump

Whitbread has struck a deal to sell Costa Coffee to Coca-Cola in a £3.9billion deal. The group, which also owns Premier Inn hotels, said disposing of the 2,400 coffee shop chain will allow it to pay down debt and boost the pension fund.    

The Restaurant Group has posted another fall in sales and profits as the Frankie & Benny’s owner was hit by extreme weather and the World Cup.