Key Developments: Coca-Cola Femsa SAB de CV (KOF)
151.23USD
24 May 2013
$-3.09 (-2.00%)
$154.32
$152.65
$154.29
$149.48
89,701
101,075
$181.35
$105.97
Latest Key Developments (Source: Significant Developments)
Coca-Cola Femsa SAB de CV Announces 10-Year Bond Issuance In Mexican Market
Coca-Cola Femsa SAB de CV (KOF) announced the placement of bonds (Certificados Bursatiles) in the Mexican market. KOF issued MXN 7,500 million in a 10-year bond at a yield of 5.46%. The proceeds will be used by the Company for general corporate purposes, including capital expenditure and working capital. Full Article
Coca-Cola Femsa SAB de CV Announces FY 2012 Dividend Payment
Coca-Cola Femsa SAB de CV announced a dividend payment for fiscal year 2012 in the amount of MXN 5,950,000,000 at a value of MXN 2.90 per share, to be paid on May 2, 2013. Full Article
Coca Cola Femsa SAB de CV Finalizes Acquisition of 51% of The Coca-Cola Company's Philippines' Bottling Operation
Coca Cola Femsa SAB de CV announced that it has finalized the acquisition of 51% of Coca-Cola Bottlers Philippines, Inc. (CCBPI) from The Coca-Cola Company for an amount of USD688.5 million in an all-cash transaction. The closing of this transaction will be effective on January 25, 2013. This purchase price represents an aggregate enterprise value for 100% of the bottler of USD1,350 million. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six. Full Article
Standard & Poor’s Affirms Its Credit Ratings On Coca-Cola Femsa SAB de CV After Agreement To Merge Bottling Operations With Grupo Yoli
Coca-Cola Femsa SAB de CV announced that it has affirmed its credit ratings on the Company after the agreement to merge bottling operations with Grupo Yoli. The ratings are as follows: A-/Stable on the global scale, mxAAA/Stable on national scale. Full Article
Fitch Ratings Affirms Its Credit Ratings On Coca-Cola Femsa SAB de CV After Agreement To Merge Bottling Operations With Grupo Yoli
Coca-Cola Femsa SAB de CV announced that Fitch Ratings has affirmed its credit ratings on the Company after the agreement to merge bottling operations with Grupo Yoli. The ratings are as follows: a long-term, national scale at AAA(mex); a short-term, national scale at F1+(mex); IDR (Issuer Default Rating), global scale and foreign currency at A, and IDR global scale and local currency at A. The outlook is stable. Full Article
Coca Cola Femsa SAB de CV And Grupo Yoli Reach Agreement To Merge Bottling Operations
Coca Cola Femsa SAB de CV and Grupo Yoli, S.A. de C.V. and its shareholders (Grupo Yoli), one of the oldest family owned Coca-Cola bottlers in Mexico, operating mainly in the state of Guerrero as well as in parts of the state of Oaxaca, have agreed to merge their operations. Grupo Yoli sold approximately 99 million unit cases of beverages in Mexico in 2012. The merger agreement has been approved by both Coca-Cola FEMSA's and Grupo Yoli's Boards of Directors and is subject to the completion of confirmatory legal, financial, and operating due diligence and to customary regulatory and corporate approvals, including the approval of The Coca-Cola Company and the Comision Federal de Competencia, the Mexican antitrust authority. Both Coca-Cola FEMSA and Grupo Yoli will call for an extraordinary shareholders meeting for the approval of this merger. The aggregate enterprise value of this transaction is Ps. 8,806 million. As a result of the merger, Grupo Yoli will receive approximately 42.4 million newly issued KOF series L shares at a value of Ps. 184.0 per share. As a result of this transaction, Coca-Cola FEMSA will become the owner of a 10.14% stake in Promotora Industrial Azucarera, S.A. de C.V. (PIASA), a participant in the Mexican sugar industry. Assuming this additional stake, Coca-Cola FEMSA will own 36.3% of one of Mexico's sugar producers. Full Article
Standard & Poor’s Affirms Its Credit Ratings On Coca Cola Femsa SAB de CV
Coca Cola Femsa SAB de CV announced that Standard & Poor’s has affirmed its long-term credit rating on the Company at A- on the global scale and at mxAAA on the national scale. The outlook is stable. Full Article
Fitch Ratings Affirms Its Credit Ratings On Coca Cola Femsa SAB de CV
Coca Cola Femsa SAB de CV announced that Fitch Ratings has affirmed its long-term credit rating on the Company at AAA(mex) on the national scale, a short-term credit rating at F1+(mex) on the national scale, Issues Default Rating (IDR) at A on the global scale in foreign currency and IDR at A on the global scale in the local currency. The outlook is stable. Full Article
Coca Cola Femsa SAB de CV Signs Definitive Agreement to Acquire 51% of The Coca-Cola Company's Philippines' Bottling Operation
Coca Cola Femsa SAB de CV announced that it have signed a definitive agreement for Coca-Cola FEMSA to acquire 51% of Coca-Cola Bottlers Philippines, Inc. (CCBPI) for an amount of USD688.5 million in an all-cash transaction. This purchase price represents an aggregate enterprise value for 100% of the bottler of USD1,350 million which results in a 2012 projected EBITDA multiple of approximately 13.5 times. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six. The transaction is expected to close in early 2013. Full Article
UPDATE 4-Mexico's Coca-Cola Femsa shares sink on lower 1st-qtr profit
April 24 - Mexico's Coca-Cola Femsa, Latin America's biggest Coke bottler, said higher costs triggered a 7.7 percent drop in its first-quarter profit, sending its shares down more than 7 percent in morning trading.
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