Merger deals approved

Related tags Coca-cola femsa Latin america

Two international deals were approved last week - the takeover of
Panamco by Coca-Cola Femsa in Mexico and the merger of
Constellation Brands and BRL Hardy in Australia.

Two international merger deals were approved last week in Mexico and Australia.

Constellation Brands, the US wine group, has received the go-ahead from the Supreme Court of South Australia for its acquisition of Australian winery BRL Hardy, paving the way for the transaction to close on 9 April.

BRL Hardy shares ceased trading on the Australian Stock Exchange on 27 March, and the company's shareholders have until 4 April to choose whether to take cash, Constellation shares or a combination of the two in exchange for their holdings.

Meanwhile, on the other side of the world, the Mexican competition authorities have approved the take over of the Panamerican Beverages business (commonly known as Panamco) by Coca-Cola Femsa, the Mexican bottler for the Atlanta-based soft drinks group.

The Comision Federal de Competencia, the Mexican Antitrust Commission, approved the acquisition without any restrictions, and a similarly positive reaction is expected from the Brazilian authorities within the next two months. Coca-Cola Femsa and Panamco will be able to conclude the transaction before a decision from the Brazilian regulators, however.

Coca-Cola Femsa produces Coca-Cola brands throughout Mexico and the Buenos Aires territory in Argentina. Panamco is the largest soft drink bottler in Latin America and one of the three largest bottlers of Coca-Cola products in the world, covering Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela and Brazil.

Related topics Manufacturers

Related news