MEXICO: Femsa drops out of CCA S Korea race
Coca-Cola Femsa is the latest company to step back from the pending sale of Coca-Cola Amatil's South Korean operations.
The Mexican soft drinks unit of Femsa said yesterday (18 April) that it has pulled out of the bidding for Coca-Cola Korea Bottling Corp., which CCA is considering selling.
"We are permanently evaluating opportunities," Coca-Cola Femsa said. "In this case, Coca-Cola Femsa revised the franchise of Coca-Cola Amatil in South Korea, but we decided not to continue with the process."
Local sources had claimed earlier this week that three bids - from SPC, City Venture Capital and Coca-Cola Femsa - had been tabled for the unit.
Separate reports, meanwhile, have claimed that Coca-Cola Hellenic Bottling has distanced itself from the sale process.
CCA will take a decision on whether to sell the unit next month.
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