ATLANTA (dpa-AFX) - Coca-Cola FEMSA, S.A.B. de C.V. (KOF) said Monday that it has entered into a 12 month exclusivity agreement with Coca-Cola Co. (KO) to evaluate the potential acquisition of a controlling ownership stake in the bottling operations owned by Coca-Cola Co. in the Philippines.
'Both parties believe that KOF's expertise and successful track record operating in fragmented markets and emerging economies can be effectively deployed in this territory and contribute significantly towards expanding the penetration of, and consumer preference for, The Coca-Cola Company's brands in this market', Coca-Cola FEMSA said in a statement.
The agreement does not require either party to enter into a deal, and there can be no assurances that a definitive agreement will be executed.
Copyright RTT News/dpa-AFX
© 2012 AFX News
