Arca Continental pays US$60m to up Corporacion Lindley stake
Arca now owns 60% of Corporacion Lindley
Mexico's Arca Continental has increased its stake in Corporacion Lindley, four months after taking majority control of the sole Coca-Cola bottler in Peru.
Arca, which is the second-largest Coca-Cola bottler in Latin America after Coca-Cola FEMSA, bought the new stake from members of the Arredondo Lindley family, the company said this week. The 38.4m common shares were valued at $1.57 each, or $60.3m in total.
Arca's takeover of Lindley is the latest bottler consolidation move in the Coca-Cola system. Coca-Cola, which has a 9% stake in Arca, approved the initial move, which followed the merger the previous month of Coca-Cola Enterprises with the German unit of the Coca-Cola Co and with Coca-Cola Iberian Partners.
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