Arca Continental Weekly Jump Most Since January on Purchase
Arca Continental SAB, the Mexican bottling group, posted the biggest weekly jump since January after Embotelladoras Arca SAB completed its acquisition of Grupo Continental SAB and the two started trading as one company.
Arca Continental surged 9.7 percent to 77.23 pesos this week in Mexico City trading, the biggest jump since the week ending Jan. 28. The stock gained 2.9 percent today.
The companies completed the acquisition and listed as a single unit on June 1 after Continental shares stopped trading on the exchange the previous day.
“This merger is going to generate synergies,” said Gerardo Copca, an equity analyst at Metanalisis SA in Mexico City. “The financial state of the group is very solid.”
Mexico’s IPC index of 37 stocks fell 0.8 percent to 35,123.89.
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