Mexican soft drinks bottler, Coca-Cola Femsa, has said it has won US regulatory approval for its US$2.7 billion acquisition of the US-based Latin American soft drinks firm, Panamerican Beverages Inc. (Panamco).
Coca-Cola Femsa is 30% owned by the Coca-Cola Company, while the Mexican brewer, Femsa, owns a 51% stake.
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Coca-Cola Femsa currently accounts for around 3.4% of the soft drinks giant’s global sales, 25.0% of its sales in Mexico and 36.5% of its sales in Argentina. Panamco is the largest soft drink bottler in Latin America and one of the three largest bottlers of Coca-Cola products in the world.
