FEMSA Continuing To Drive Consolidation In Mexico

Soft drink firm Coca-Cola FEMSA continues to drive consolidation within Mexico's soft drink sector, announcing that it is to purchase the drinks arm of Mexican group Fomento Queretano. The deal is worth MXN6.6bn (including MXN1.2bn of Queretano's debt) and represents FEMSA's third major acquisition in Mexico's soft drink sector in 2011. As with the purchase of Grupo Cimsa in September, the acquisition is being made by handing over newly issued shares. It will therefore only have a limited impact on FEMSA's financial position, leaving it free to pursue further

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