Coca-Cola Femsa wraps up buy of Coca-Cola's Philippines bottling unit.
M2 EQUITYBITES-January 25, 2013-Coca-Cola Femsa wraps up buy of Coca-Cola's Philippines bottling unit(C)2013 M2 COMMUNICATIONS http://www.m2.com
25 January 2013 - Coca-Cola Femsa SAB de CV (MXK:KOFL), the bottler of Coca Cola in Mexico, said it had completed the USD688.5m (EUR515.3m) all-cash deal which gave it 51% in The Coca-Cola Company's (NYSE:KO) bottling unit in the Philippines.
The completion of the transaction agreed in December 2012 will become effective on 25 January 2013, the buyer said. The purchase implies an enterprise value of USD1.35bn for the entire Coca-Cola Bottlers Philippines Inc (CCBPI).
The terms of the agreement allow Coca-Cola Femsa the option to take the remaining 49% in CCBPI within seven years from the closing of this deal, the buyer said.
Over the past 18 months, the Mexican group invested over USD3.5bn in five transactions in the Coca-Cola bottling space, enhancing its presence in the global beverage industry, it explained.
Back in December, Coca-Cola Femsa said the acquisition of CCBPI increases its exposure to fast-growing emerging economies, where it expects profitable growth and long-term returns.
CCBPI runs 23 production plants, serving nearly 800,000 customers and is expected to sell some 530m unit cases of beverages in 2012.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 25, 2013|
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