PEPSI COLA PUERTO RICO BOTTLING CO
SC 13G/A, 1999-01-12
BOTTLED & CANNED SOFT DRINKS & CARBONATED WATERS
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<PAGE>   1
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1)*


                     Pepsi-Cola Puerto Rico Bottling Company
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                      Class B Common Stock, $.01 Par Value
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    713434108
                     --------------------------------------
                                 (CUSIP Number)

                                September 4, 1998
                     --------------------------------------
                      (Date of Event which Requires Filing
                               of this Statement))


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         [ ]      Rule 13d-1(b)
         [X]      Rule 13d-1(c)
         [ ]      Rule 13d-1(d)







*        The remainder of this cover page shall be filled out for a reporting
         person's initial filing on this form with respect to the subject class
         of securities, and for any subsequent amendment containing information
         which would alter the disclosures provided in a prior cover page.

         The information required on the remainder of this cover page shall not
         be deemed to be "filed" for the purpose of Section 18 of the Securities
         Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
         that section of the Act but shall be subject to all other provisions of
         the Act (however, see the Notes).



<PAGE>   2


<TABLE>
<CAPTION>


    CUSIP No. 713434108                          13G                                     PAGE     OF     PAGES
              ---------------------                                                          -----  -----
    ----------------------------------------------------------------------------------------------------------
    <S>                                                                                  <C>             <C> 
      (1)  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

           Rafael Nin

    ----------------------------------------------------------------------------------------------------------

      (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                                          (a)   [  ]
                                                                                          (b)   [  ]
    ----------------------------------------------------------------------------------------------------------

      (3)  SEC USE ONLY

    ----------------------------------------------------------------------------------------------------------


      (4)  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
    ---------------------------------------------------------------------------------------------------------

     NUMBER OF             (5)      SOLE VOTING POWER
       SHARES                        
    BENEFICIALLY                    1,516,667
      OWNED BY             ----------------------------------------------------------------------------------
        EACH               (6)      SHARED VOTING POWER     
     REPORTING                                               
       PERSON                        -0-                     
        WITH               ----------------------------------------------------------------------------------
                           (7)      SOLE DISPOSITIVE POWER  
                                                             
                                     -0-                     
                           ----------------------------------------------------------------------------------
                           (8)   SHARED DISPOSITIVE POWER   
                                                             
                                     -0-                        
                           ----------------------------------------------------------------------------------
                           

     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,516,667
    ---------------------------------------------------------------------------------------------------------
    (10)   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
                                                                                 
           [  ]
       
    ---------------------------------------------------------------------------------------------------------
                                                                                                
    (11)   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           8.33%
    ---------------------------------------------------------------------------------------------------------

    (12)   TYPE OF REPORTING PERSON*

           IN
    ---------------------------------------------------------------------------------------------------------
</TABLE>

                                      -2-


<PAGE>   3

Item 1(a)                    NAME OF ISSUER:

                             No change.

Item 1(b)                    ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                             No change.

Items 2(a)                   NAME OF PERSON FILING:

                             No change.

Item 2(b)                    ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF
                             NONE, RESIDENCE:

                             No change.

Item 2(c)                    CITIZENSHIP:

                             No change.

Item 2(d)                    TITLE OF CLASS OF SECURITIES:

                             No change.

Item 2(e)                    CUSIP NUMBER:

                             No change.

Item 3                       Not applicable.

Item 4                       OWNERSHIP:

Item 4(a)                    AMOUNT BENEFICIALLY OWNED:

                             The Reporting Person may be deemed the beneficial
                             owner of 1,516,667 Shares held for his personal
                             account (assuming the exercise of all immediately
                             exercisable options).


Item 4(b)                    PERCENT OF CLASS:

                             The number of Shares of which the Reporting Person
                             may be deemed to be the beneficial owner
                             constitutes approximately 8.33% of the total number
                             of Shares outstanding.


                                      -3-
<PAGE>   4



Item 4(c)                    NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:

                                 (i)   Sole power to vote or to direct the vote:
                                       1,516,667

                                (ii)   Shared power to vote or to direct the
                                       vote: -0-

                               (iii)   Sole power to dispose or to direct the
                                       disposition of: 1,7O6,667

                                (iv)   Shared power to dispose or to direct the
                                       disposition of:  -0-

Item 5                       OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

                             Not Applicable

Item 6                       OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
                             ANOTHER PERSON:

                             Not Applicable

Item 7                       IDENTIFICATION AND CLASSIFICATION OF THE
                             SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
                             REPORTED ON FLY THE PARENT HOLDING COMPANY:

                             Not Applicable

Item 9                       IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
                             THE GROUP:

                             Not Applicable

Item 9                       NOTICE OF DISSOLUTION OF GROUP:

                             Not Applicable

Item 10                      CERTIFICATION:

         By signing below the signatory certifies that, to the best of his
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the Issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.

                                      -4-
<PAGE>   5


                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated as of:    11-2-98
             -------------

                              /s/ Rafael Nin
                              ----------------------  
                                  Rafael Nin


                                      -5-


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