Aboitiz Equity Ventures Inc. will reallocate the proceeds of its planned P14.75-billion bond sale to fund the acquisition of Coca-Cola Beverage Philippines Inc. , the local bottler of The Coca-Cola Co.
Previous to the Coca-Cola announcement, AEV is also buying GMR Megawide Cebu Airport Corp., which operates the Mactan Cebu International Airport. AEV is acquiring the airport operator for P25 billion, which it can pay until next year. It said the food and beverage firm’s volume in the past six years only grew by a compounded 2.2 percent.
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