Mexico's Femsa in talks to buy Grupo Industrias Lacteas

Mexican beverages group Femsa said it reached a preliminary agreement to buy Grupo Industrias Lacteas, Panama's leading dairy products company.

Terms of the deal were not disclosed and the purchase is still subject to approval by Panama's competition regulator. Panamanian media said the purchase would cost the Mexican group $220 million.

Grupo Industrias Lacteas has three manufacturing plants and almost 1,800 employees, Femsa said.

Original source: Reuters