MEXICO CITY, March 18 Mexican bottler Arca
Continental said on Tuesday it will pay $5.55 a share in
its purchase of Ecuador's Tonicorp dairy company in a deal worth
around $400 million.
Arca said that its local subsidiary Arca Ecuador would
purchase 87.37 percent of Tonicorp shares in the hands of
controlling shareholders, and that it would launch a public
offering to acquire those belonging to minority shareholders.
Arca announced last August that it had come to an agreement
to buy the majority stake of Tonicorp without giving details on
the size of the deal. The acquisition is subject to regulatory
approval, Arca said.
Arca shares were up 0.81 percent at 75.07 pesos ($5.69) per
share in early trading.