MEXICO CITY -(Dow Jones)- Mexican soft drink bottler Coca-Cola Femsa SAB (KOF) said Thursday evening it closed the acquisition of a Brazilian bottler owned by Coca-Cola Co. (NYSE:KO) (KO) for $364.1 million.

In a press release, Coca-Cola Femsa (NYSE:KOF) said its purchase of Refrigerantes Minas Gerais Ltda., or Remil, is still subject to the approval of Brazilian antitrust authorities.

"This transaction will expand our footprint in Brazil by more than a third and substantially increase the number of clients and customers that we will serve," said Carlos Salazar, chief executive of Coca-Cola Femsa (NYSE:KOF) .

Belo Horizonte-based Remil sold 114 million unit cases of soft drinks, water, still beverages and beer in 2007.

The company, which serves 15 million people in 13 cities, had net revenue of about 721 million reals ($450.1 million) last year.

Coca-Cola Femsa (NYSE:KOF) said its consolidated operations in Brazil will represent about 30% of the Coca-Cola bottling system in that country, serving more than 41 million consumers.

Coca-Cola Femsa's (NYSE:KOF) shares traded on the New York Stock Exchange closed nearly unchanged at $54.93 Thursday.

-By Ken Parks, Dow Jones Newswires, 52-55-5001-5723, ken.parks@dowjones.com

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    (END) Dow Jones Newswires   06-27-08 0953   Copyright (c) 2008 Dow Jones & Company, Inc.