Coca-Cola FEMSA, S.A.B. de C.V. (KOF: Quote) announced that it has finalized the acquisition of 51% of Coca-Cola Bottlers Philippines, Inc. or CCBPI from The Coca-Cola Co (KO: Quote) for $688.5 million in an all-cash transaction. The closing of this transaction will be effective on January 25, 2013.
Coca-Cola FEMSA stated that the purchase price represents an aggregate enterprise value for 100% of the bottler of $1,350 million.
As part of deal, Coca-Cola FEMSA will have an option to buy remaining 49% of CCBPI at any time during seven years following closing and will have a put option to sell its ownership to The Coca-Cola Co any time during year six.
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by RTT Staff Writer
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