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Bulletin: Coca-Cola Femsa S.A.B. de C.V. Ratings Unaffected By Merger Of Bottling Operations With Grupo Fomento Queretano Dec 11
Standard & Poors, Dec 2011
Abstract
MEXICO CITY (Standard & Poor's) Dec. 16, 2011--Standard & Poor's Ratings Services said today that its ratings on Mexico-based Coca-Cola Femsa S.A.B. de C.V. (KOF; A-/Stable/--) are unaffected by the company's agreement to merge its bottling operations with those of Grupo Fomento Queretano (not rated). The value of the transaction is Mexican pesos (MXN) 6.6 billion. Closing of the transaction is subject to the completion of due diligence and regulatory and corporate approvals. As a result of the merger, Grupo Fomento Queretano's shareholders will receive 45.1 million newly issued KOF series L shares. The number of shares could be adjusted within agreed-upon thresholds, pending the completion of the due diligence process. KOF will also assume MXN1.221 billion in net debt....
Companies mentioned in this report are: Coca-Cola Femsa S.A.B. de C.V.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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