Coca-Cola Co. (KO:US), the world's largest soft-drink maker, and Mexican bottler Coca-Cola Femsa SAB completed the purchase of juicemaker Jugos del Valle SAB for $370 million.
Coca-Cola and Coca-Cola Femsa, Latin America's largest soft-drink company, paid $6.34 for each of Jugos del Valle's 58.35 million shares in a public offer that began last month, the companies said today in a statement. The buyers will assume $86 million of debt.
Jugos del Valle is Mexico's second-largest juicemaker behind Grupo Jumex. Coca-Cola, which owns 32 percent of Coca- Cola Femsa, and the Mexican bottler first announced their intention to buy the juicemaker in December last year.
Coca-Cola Femsa fell 31 centavos, or 0.7 percent, to 47.40 pesos in Mexico stock exchange trading as of 12:19 a.m. New York time. The stock has gained 19 percent in the past 12 months.
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