Mexican soft-drink bottler, Coca-Cola Femsa and the Coca-Cola Company have both been authorized to buy the bottled water business of Bavaria, a SABMiller unit, CNN Money reports. The Colombian antitrust authorities have approved the deal.

Femsa and Coca-Cola had agreed to acquire Brisa, Bavaria’s bottled water unit for $92 million in August 2008. Brisa's assets and inventory will be handed over in October.

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