MEXICO: Coca-Cola FEMSA, Grupo CIMSA deal receives clearance
Coca-Cola FEMSA announced the US$834m purchase in September
Mexico's antitrust commission has approved Coca-Cola FEMSA's acquisition of the bottling operations of Grupo CIMSA.
The Comision Federal de Competencia Mexico confirmed the approval in a notice on its website yesterday (28 November). Coca-Cola FEMSA announced the MXN11bn (US$834m) purchase in September.
The deal gives the Mexican soft drinks giant control of 50% of Coca-Cola Co volumes in Mexico. In addition, Coca-Cola FEMSA will become the owner of a 13.2% stake in Promotora Industrial Azucarera, (PIASA), a participant in the Mexican sugar industry.
This is the second major deal for Coca-Cola FEMSA this year. In October, the company completed a merger with the bottling division of privately-held Mexican conglomerate Grupo Tampico.
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