Mexico City, Mexico, December 13, 2018 – Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) (“Coca-Cola FEMSA”, “KOF” or “the Company”), the world’s largest public bottler of Coca-Cola products by sales volume, announces the closing by its subsidiary Controladora de Inversiones en Bebidas Refrescantes, S.L. (“CIBR”), of the transaction to sell its 51% stake in Coca-Cola FEMSA Philippines, Inc. (“CCFPI”) to the Coca-Cola Company (“TCCC”), for an aggregate amount of US$ 715 million.
As previously announced, on August 16, 2018, CIBR notified to TCCC its decision to exercise its put option to sell its stake in CCFPI.
The proceeds of this transaction will be used for debt repayment and general corporate purposes.
The parties will continue to work and cooperate to ensure a smooth transition of the CCFPI business.