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CONSUMER STAPLES: FEMSA (FEMSA; NR/BBB+/A Neg) divests logistics for ~USD $208m

CONSUMER STAPLES

The Coca-Cola bottler (35%) and LATAM convenience store operator (40%) will divest certain of its logistics operations to fellow Mexican transport/logistics co Traxion for $4060m pesos (~$208m). Not a mover for the co that carries $9.3b cash on hand against $13b on debt - gross levered 2.2x (including debt under Coca-Cola FEMSA subsidiary there).

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The Coca-Cola bottler (35%) and LATAM convenience store operator (40%) will divest certain of its logistics operations to fellow Mexican transport/logistics co Traxion for $4060m pesos (~$208m). Not a mover for the co that carries $9.3b cash on hand against $13b on debt - gross levered 2.2x (including debt under Coca-Cola FEMSA subsidiary there).