Grupo Cimsa, a Mexican family-owned Coca-Cola bottler, operates mainly in the states of Morelos and Mexico including in parts of the states of Guerrero and Michoacan.
Grupo Cimsa’s bottling operation is expected to sell 159 million unit cases of beverages in Mexico in 2011. The merger agreement has been approved by Coca-Cola subject to the completion of confirmatory legal, financial, and operating due diligence and to customary regulatory and corporate approvals, among them the approval of The Coca-Cola Company and the Comisión Federal de Competencia, the Mexican antitrust authority.
Coca-Cola Femsa and Grupo Cimsa will call for an extraordinary shareholders meeting for the approval of this merger.
Through this transaction, Coca-Cola Femsa will become the owner of a 13.2% stake in Promotora Industrial Azucarera, a participant in the Mexican sugar industry.
Source: Coca-Cola Femsa
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