August 20, 2018 |
Coca-Cola Femsa is moving ahead with its divestment plans, agreeing to exercise an option to sell its stake in the company's Philippines subsidiary.
The move comes less than a year after the soft drink bottler snapped up about $3bn from selling a portion of shares in Dutch beer company Heineken.
While no transaction size was disclosed, Femsa said the sale price may not exceed the value agreed during the original purchase.
As previously reported by LatinFinance, Coca-Cola Femsa agreed in December
Mexican soft drink bottler exercises option to sell 51% stake in subsidiary in a deal worth no more than $689m