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MEXICO: Coca-Cola Co. and FEMSA warned off fruit juice deal

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Coca-Cola FEMSA and The Coca-Cola Company have seen their plans to buy Mexican fruit juice company Jugos del Valle hit the buffers.

The two Coke companies said late last week that the Comisión Federal de Competencia in Mexico (CFC) has objected to the planned acquisition.

Coca-Cola FEMSA's plans to buy Jugos del Valle, one of the continent's largest fruit juice producers, would involve buying all shares in the company for US$380m, taking on debt worth up to US$90m.

"Once we receive the official notification, we will review CFC's resolution and jointly with Jugos del Valle decide our course of action, including the possibility of contesting such resolution," the two companies said.

Coca-Cola FEMSA has recently reported a three-for-one stock split, with its total capital stock consisting of 2.16bn BD Units and 1.42bn B Units. This split will also result in a three-for-one split of its American Depositary Shares (ADSs), according to reports.


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