Oct. 11 (Bloomberg) -- Coca-Cola Femsa SAB’s shareholders approved the combination with Mexican Grupo Tampico’s SA beverage division, the company said today in a statement to the nation’s stock exchange.
As part of the combination Coca-Cola Femsa shareholders agreed to increase the board seats to 21 from 18, according to the statement. Grupo Tampico shareholders received 63.5 million of newly issued shares series L of Coca-Cola Femsa, the statement said.
Coca-Cola Femsa agreed to pay 6.55 billion pesos ($555 million) in stock for the Coke bottling operations of Grupo Tampico on June 29, marking the company’s first all-share transaction.
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