LatAm M&A volume rose slightly in 2012 mostly due to
persistent international investor interest - especially from
the US - in the region. In many sectors, competition between
emerging regional names for investment has driven up prices. A
few LatAm corporates continue to look to invest outside of the
region. All of these trends, plus the continued selloff by
Europeans, look set to carry into this year.
Coca-Cola Femsa joins other LatAm blue-chips looking for
strategic acquisitions outside of the region. It intends to pay
$689 million in cash to acquire 51% of Coca-Cola Bottlers
Philippines from The Coca-Cola Company, in its first buy
outside of Latin America.
Analysts said the price was reasonable, at 13 times 2012
Ebitda. Coca-Cola Femsa has an option to acquire the remaining
49% of the bottler for...
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