Coca-Cola FEMSA (KOF), Grupo CIMSA Complete Bottling Ops Merger
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Coca-Cola FEMSA, S.A.B. de C.V. (NYSE: KOF) and Corporacion de los Angeles, S.A. de C.V. and its shareholders announce the successful merger of Grupo CIMSA with Coca-Cola FEMSA.
This transaction received all necessary approvals, including the approval of The Comision Federal de Competencia, the Mexican antitrust authority, and The Coca-Cola Company. Subsequently, Coca-Cola FEMSA held an extraordinary shareholders meeting on December 9, 2011, at which the Company's shareholders approved this merger.
The aggregate enterprise value of this transaction is Ps. 11,000 million, which at the time of the announcement of this merger represented an EV/EBITDA multiple of approximately 10 times. As a result of the completion of the due diligence process, no material adjustment was recorded, and Grupo CIMSA's main shareholders received 75.4 million newly issued KOF series L shares. Coca-Cola FEMSA assumed Ps. 2,100 million in net debt.
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This transaction received all necessary approvals, including the approval of The Comision Federal de Competencia, the Mexican antitrust authority, and The Coca-Cola Company. Subsequently, Coca-Cola FEMSA held an extraordinary shareholders meeting on December 9, 2011, at which the Company's shareholders approved this merger.
The aggregate enterprise value of this transaction is Ps. 11,000 million, which at the time of the announcement of this merger represented an EV/EBITDA multiple of approximately 10 times. As a result of the completion of the due diligence process, no material adjustment was recorded, and Grupo CIMSA's main shareholders received 75.4 million newly issued KOF series L shares. Coca-Cola FEMSA assumed Ps. 2,100 million in net debt.
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