Coca-Cola FEMSA S.A.B de C.V. completed the acquisition of 51% stake in Coca-Cola Bottlers Philippines, Inc. from Coca-Cola South Asia Holdings, Inc. and Coca-Cola Holdings Limited.
January 23, 2013 at 11:00 pm EST
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Coca-Cola FEMSA S.A.B de C.V. (NYSE:KOF) signed a definitive agreement to acquire 51% stake in Coca-Cola Bottlers Philippines, Inc. from Coca-Cola South Asia Holdings, Inc. and Coca-Cola Holdings (Overseas) Limited for approximately $690 million in cash on December 14, 2012. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49% of Coca-Cola Bottlers Philippines at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six. The transaction is expected to close in early 2013. Allen & Company LLC and Rothschild acted as financial advisors and Cleary, Gottlieb, Steen & Hamilton and Imelda A Manguiat and Carina C Laforteza of SyCip Salazar Hernandez & Gatmaitan acted as legal advisors for Coca-Cola FEMSA. Martha McGarry and Sean Doyle of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to The Coca-Cola Company, parent of Coca-Cola Holdings (Overseas) Limited and Coca-Cola South Asia Holdings, Inc.
Coca-Cola FEMSA S.A.B de C.V. (NYSE:KOF) completed the acquisition of 51% stake in Coca-Cola Bottlers Philippines, Inc. from Coca-Cola South Asia Holdings, Inc. and Coca-Cola Holdings (Overseas) Limited on January 24, 2013.
Coca-Cola FEMSA, S.A.B. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities. The Company's segments include Mexico and Central America division, which comprises Mexico (including corporate operations), Guatemala, Nicaragua, Costa Rica and Panama; the South America division, which consists of Brazil, Argentina and Colombia; Venezuela, which operates in an economy with exchange control and hyper-inflation, and the Asian division, which consists of the Company's equity method investment in Coca-Cola FEMSA Philippines, Inc. The Coca-Cola trademark beverages include sparkling beverages (colas and flavored sparkling beverages), waters and still beverages (including juice drinks, coffee, teas, milk, dairy and isotonic drinks).
Coca-Cola FEMSA S.A.B de C.V. completed the acquisition of 51% stake in Coca-Cola Bottlers Philippines, Inc. from Coca-Cola South Asia Holdings, Inc. and Coca-Cola Holdings Limited.
COCA-COLA FEMSA, S.A.B. DE C.V. 
