MONTERREY, Mexico, Nov. 3 /PRNewswire-FirstCall/ -- Fomento Economico Mexicano, S.A. de C.V. ("FEMSA") today announced the completion of its acquisition through its subsidiary Compania Internacional de Bebidas, S.A. de C.V. of 148,000,000 Series "D" shares of Coca-Cola FEMSA, S.A. de C.V. ("KOF") from certain subsidiaries of The Coca-Cola Company ("TCCC"), representing 8.02% of the total outstanding equity of KOF, at a price of US$ 2.888 per share for an aggregate amount of US$ 427.4 million. The acquisition of additional shares took place pursuant to a Memorandum of Understanding between FEMSA and TCCC relating to the acquisition of Panamco by KOF in 2003.
Following the acquisition by FEMSA of shares from TCCC, economic ownership stakes in KOF are 53.7% for FEMSA, 31.6% for TCCC, and the public float remains unchanged at 14.7%. Voting ownership in KOF is now 63.0% for FEMSA and 37.0% for TCCC. The acquisition does not represent a change in the control or management of the company.
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca- Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico and important beer exporter to the United States; and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 4,000 stores.
