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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