MEXICO CITY -- (Marketwired) -- 05/24/13 -- Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL) (NYSE: KOF) ("Coca-Cola FEMSA" or the "Company"), the largest Coca-Cola franchise bottler in the world, and Grupo Yoli, S.A. de C.V ("Grupo Yoli") and its shareholders announce the successful merger of Grupo Yoli with Coca-Cola FEMSA.
As a result of the merger, Grupo Yoli's shareholders will receive approximately 42.4 million KOF series L shares.
Through this transaction, Coca-Cola FEMSA became the owner of an additional 10.14% stake in Promotora Industrial Azucarera, S.A. de C.V. ("PIASA"), a participant in the Mexican sugar industry.
"We are pleased to announce the successful merger of Grupo Yoli with Coca-Cola FEMSA. This territory is completely contiguous to our existing franchise in Mexico and presents an interesting single-serve and sparkling beverage mix in its portfolio. In addition, through this transaction, we increase our stake in PIASA to more than 37 percent. Going forward, our joint operation will certainly benefit from the potential synergies that our teams have identified. We would like to thank everybody involved in this transaction for their efforts to close this important merger, and especially our new partner -- with whom we share an aligned vision -- for the trust they place in our company," said Carlos Salazar Lomelín, Chief Executive Officer of the Company.
Coca-Cola FEMSA will start integrating the results of Grupo Yoli as of June, 2013.
Proyectos Financieros Especializados, S.C. (Profit) and Creel, García-Cuéllar, Aiza y Enríquez acted as exclusive financial and legal advisors, respectively, to Grupo Yoli on this transaction.
Deloitte Galaz, Yamazaki, Ruiz Urquiza, S.C. and Raz Guzmán Abogados acted as financial and legal advisors, respectively, to Coca-Cola FEMSA on this transaction.
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City, as well as the south and northeast of Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, part of the state of Goias, and part of the state of Minas Gerais), Argentina (federal capital of Buenos Aires and surrounding areas) and Philippines (nationwide), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 62 bottling facilities and serves 317 million consumers through close to 2,700,000 retailers with more than 100,000 employees worldwide.
For Further Information:
(5255) 1519-5120 / 5121
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Quiznos Files for Chapter 11
- U.S. to Relinquish Gov't Control Over Internet
- FDIC Sues Big Banks Over Rate Manipulation
- Keurig Adds Peet's coffee, Alters Starbucks deal
- SoCalGas Reaches Record Spend on Diversity Suppliers
- U.S. Consumer Sentiment Falls in Early March
- Vybz Kartel Convicted of Murder