Banking & Business

Banking & Business

Mexico

Femsa Gulps Down Panamco Femsa Gulps Down Panamco Mexican soft drink company Coca-Cola Femsa in January swooped in to take control of Panamerican Beverages (Panamco), paying $3.6 billion for the company. Coca-Cola Femsa is putting down $2.72 billion in cash and stock, and assuming a further $880 million in debt. Panamco is the largest soft drink maker in Latin America. The acquisition will create the world's second-largest bottler of Coca-Cola, Fanta and Sprite soft drinks. Femsa expects the merged group to post annual revenues of $4.6 billion. Coca-Cola Femsa will pay $22 a share to owners of Panamco's Class A shares and $38 a share to Class B shareholders. Venezuela's Cisneros Group own

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