Coca-Cola FEMSA, Coke's biggest franchise bottler, is taking control of Coca-Cola Bottlers Philippines Inc. (CCBPI) from the main company in the US.
Mexico-based Coca-Cola FEMSA is buying 51% of the Philippine business for $688.5 million.
This is the fourth time control over Coca-Cola Bottlers Philippines will change hands in the last two decades.
1927 San Miguel gets Coke franchise
1997 San Miguel sells to Coca-Cola Amatil (Australia)
2001 San Miguel and Coca-Cola (US) take control of CCBPI
2007 San Miguel sells its CCBPI shares to Coca-Cola Co.
2012 Coca-Cola FEMSA (Mexico) buys 51% of CCBPI
In the 2007 transaction, Coca-Cola US paid $590 million for San Miguel's 65% stake. Compare that with the $688.5 million Coca-Cola FEMSA is paying for a 51% stake.
ANC Top Story, December 14, 2012