BRF SA, Brazil’s biggest food producer, plans to divest more local assets after last week’s sale of two beef plants while expanding its overseas business, Chief Executive Officer Claudio Galeazzi said.
Billionaire Carlos Slim ’s gold and silver producer Minera Frisco SAB soared 26 percent in its first day of trading in Mexico City after being spun off from Grupo Carso SAB as investors bet precious metals prices will increase.
Coca-Cola Femsa SAB, Latin America’s largest Coke bottler, said it will account for half of Mexico’s Coca-Cola sales after completing an agreement to buy the bottling operations of Grupo Cimsa with new shares.
Coca-Cola Femsa SAB , the largest Coca-Cola bottler by volume, is outpacing parent Fomento Economico Mexicano SAB by the widest margin in five years as Bill Gates and other investors seek more exposure to developing nations.
Fomento Economico Mexicano SAB was cut to “hold” from “buy” at Banco Santander SA. The brokerage has a 2011 estimate of $61 for the company’s American depository receipts, according to a report by analysts led by Luis Miranda.
Coca-Cola Femsa SAB, the largest publicly traded Coke bottler by volume, is in talks to buy a controlling stake in the Coca-Cola Co.’s Philippine unit in what would be its first acquisition outside Latin America.