OTHER NEWS - March 19, 1992
From Times Staff and Wire Reports
Femsa Sells Water Company: Femsa, Mexico’s top beverage company, has agreed to sell its mineral water division, which makes the Penafiel brand, to London-based Cadbury Schweppes for $325 million, executives of the two corporations announced. The acquisition is the largest in the history of the British candy and beverage company, which had sales of $5.5 billion last year. Proceeds from the sale will help pay down Monterrey-based Femsa’s $600-million share of the $1-billion debt its largest stockholders used to finance the purchase of the country’s second-biggest bank, Bancomer.
