SyCipLaw advises Coca-Cola FEMSA in its acquisition of controlling interest in Coca-Cola Bottlers Philippines, Inc.
April 1, 2013
SyCipLaw acted as Philippine counsel to Coca-Cola FEMSA, S.A.B. de C.V. (“KOF”) in its acquisition of 51% of Coca-Cola Bottlers Philippines, Inc. (“CCBPI”) from The Coca-Cola Company for US$688.5 million in cash.
The transaction, which closed on January 25, 2013, also provides Coca-Cola with an option to acquire the remaining 49% of CCBPI within seven years. The acquisition provides KOF with a major foothold in the Philippine beverage industry and marks its first venture in Asia.
Mexico-based KOF is currently the largest franchise bottler of Coca-Cola products in the world. It produced and distributes Coca-Cola products in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil and Argentina.
The SyCipLaw team was led by partners Imelda A. Manguiat and Carina C. Laforteza. Other members include partners Lozano A. Tan, Carlos Roberto Z. Lopez and Maria Teresa D. Mercado-Ferrer, senior associates Russel L. Rodriguez and Jan Celine C. Abaño-Ranada, and associates May Ann R. Rosales, Leah C. Abutan, Yvette T. Yaneza, Katrina May O. Sy, Rosalyn S. Co and Benjamin C. Yan.
The firm continues to advise KOF and CCBPI on certain corporate, securities and tax matters and in developing its labor and personnel policies post-acquisition.