MEXICO CITY Jan 17 Mexican bottler Coca-Cola
FEMSA SAB De CV said on Thursday that it has agreed to
buy Grupo Yoli, maker of a popular lime-flavored soft drink, in
a deal valued at around $700 million where the Coke giant will
pay with shares and absorb debt.
Grupo Yoli, which operates in the western states of Guerrero
and Oaxaca, will get 42.4 million of newly-issued Coca-Cola
FEMSA L Shares, each valued at 184 pesos. Additionally,
Coca-Cola FEMSA will absorb 1 billion pesos in net debt.
As part of the agreement, Coca-Cola FEMSA will also gain a
10.14 percent stake in Promotora Industrial Azucarera, boosting
its holding in one of Mexico's top sugar producers to 36.3
The Yoli deal must still be approved by regulators and
The Mexican bottler has recently expanded its footprint in
Mexico and abroad via acquisitions. In December, Coca-Cola FEMSA
reached a deal to buy 51 percent in Coca-Cola Co's Philippine
bottling operations for $688.5 million in cash.