Home Americas Americas: AC ups stake in Corporacion Lindley

Americas: AC ups stake in Corporacion Lindley

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Arca Continental (AC) has acquired 38.4 million common shares with voting rights issued by Corporacion Lindley S.A. (CL), which were previously owned by members of the Arredondo Lindley family and that represented approximately 6.6% of its capital stock.

AC paid US$ 1.57 for each of these shares.

With this acquisition, the Mexican bottler strengthened its controlling stake, reaching more than 60% of CL’s capital stock.

Its partner, The Coca-Cola Company, holds 38.5% of CL’s common shares with voting rights.

In terms of the investment shares, which are not part of the capital stock and have no-voting rights, Arca Continental signed an agreement with the Arredondo Lindley family to acquire 1.28 million investment shares issued by CL, which represent 1.78% of the total number of investment shares issued, at a purchase price of US$0.89 per share.