MEXICO CITY Jan 24 Mexico's Coca-Cola FEMSA
said on Thursday that it had closed on its $688.5 million
acquisition of a 51 percent stake in Coca-Cola Co's Philippines
bottling operations, part of a recent shopping spree to expand
its global footprint.
Coca-Cola FEMSA will have the option to acquire
the remaining 49 percent of Coca-Cola Bottlers Philippines Inc
(CCBPI) at any time during the next seven years.
Earlier this month, Coca-Cola FEMSA said it had agreed to
buy Grupo Yoli, the maker of a popular lime-flavored soft drink,
in a deal valued around $700 million in which the Coke giant
will pay with shares and absorb debt.
In May last year, the company closed the acquisition of the
drinks unit of Mexico's Grupo Fomento Queretano in a $501