Coca-Cola bottler to buy large bottling company in Mexico
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Posted 2:22PM on Monday, December 23, 2002
ATLANTA - Coca-Cola's largest Mexican bottling company has purchased bottler Panamco in a $3.6 billion deal that will create the world's second largest Coca-Cola bottler. <br>
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Officials from bottling company Coca-Cola FEMSA, of which Coca-Cola owns a 30 percent equity interest, approved the transaction Monday. Coca-Cola FEMSA is a subsidiary of Fomento Economico Mexicano, Latin America's largest beverage company in terms of sales. <br>
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After acquiring Panamco, Coca-Cola FEMSA officials say the combined company will become the leading bottler of Coca-Cola products in Latin America with estimated pro-forma revenues of $4.6 billion and estimated total volume of 1.9 billion unit cases.