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Mexico's Coca-Cola Femsa buys Brazil's Spaipa in $1.855 billion deal

MEXICO CITY (Reuters) - Mexico's Coca-Cola Femsa, a joint venture between Coca-Cola Co (NYS:KO) and Mexican retail and bottling company Femsa (MEX:FEMSAUBD), said on Saturday it acquired Brazil's Spaipa S.A. Industria Brasileira de Bebidas in a deal valued at $1.855 billion.

Coke Femsa (KOFL.MX), Latin America's largest Coke bottler, said the all-cash acquisition would increase its volume in Brazil by 40 percent. It said Spaipa generated net revenues of $905 million in the 12 months ended June 30, 2013.

The deal comes days aftere Coca Cola Femsa said it completed a separate all-cash purchase of Brazilian Coke bottler Companhia Fluminense de Refrigerantes, for which it agree in June to pay $448 million.

(Editing by Simon Gardner)