KOF Merger Maintains Consolidation Trend
Coca-Cola Femsa (KOF) and regional Mexican Coca-Cola bottler Cimsa have agreed to a share-swap merger valued at MXP11bn ($831m), in KOF’s latest cashless combination with a smaller peer. The move is part of a broader consolidation in the sector that is likely to continue, analysts say. Cimsa owners will get 75.4m new KOF shares, and KOF will assume MXP2.1bn in Cimsa debt. The shift from traditional cash buys to share exchanges has changed consolidation in the historically...
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