Mexican bottler Arca boosts stake in Peru's Lindley

Arca Continental, Latin America's No. 2 Coke bottler, said on Monday that it had increased its stake in Peru's Corporación Lindley to more than 60 percent with an additional purchase of common shares with voting rights.

Arca, which has sought to strengthen its position in South America, purchased more than 38 million common shares of Corporación Lindley at a price of US$1.57 per share in the acquisition concluded on Monday, the Mexican company said in a statement.

The Coca-Cola Company holds most of the rest, or about 38.5 percent of Lindley's common shares with voting rights.

Monterrey-based Arca estimates that it serves over 83 million consumers in Mexico, Ecuador, Peru and Argentina.

In September, Arca paid US$910 million to the Lindley family for 53 percent of the common shares.