Pepsi Bottling, the biggest bottler of Pepsi worldwide, has said it cannot provide any assurance regarding the timing, value or determination to proceed with any transaction involving Pepsi-Gemex, Mexico.
In May, Pepsi Bottling signed a nonbinding agreement with the two principal shareholders of Mexican bottler Pepsi-Gemex regarding the possible acquisition of all the outstanding shares of the company.
Pepsi-Gemex is the No. 2 bottler of Pepsi-Cola beverages outside of the United States.
It is expected that if the deal occurs, it will be in the form of cash tender offers in the United States and Mexico, Pepsi Bottling said in a quarterly filing with the US Securities and Exchange Commission.
The gross enterprise value of Pepsi-Gemex, in which PepsiCo Inc. holds about a 34 percent stake as determined by the parties, is 11.9 billion Mexican pesos (1.24bn), Pepsi Bottling said.
Pepsi Bottling expanded its international reach earlier this year with its purchase of Turkey's exclusive Pepsi bottler, Fruko.