FEMSA announces agreement with TRAXIÓN to divest certain of FEMSA’s logistics operations
Fomento Economico Mexicano S.A.B. de C.V. (FMX)
Last fomento economico mexicano s.a.b. de c.v. earnings: 10/26 05:05 pm
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US:NYSE Investor Relations:
ir.femsa.com
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Source: GlobeNewswire
MONTERREY, Mexico, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced it has reached a definitive agreement with Grupo Traxión, S.A.B. de C.V (BMV: TRAXIONA), a leading transportation and logistics company based in Mexico, to divest certain of FEMSA’s logistics operations doing business as Solistica. The transaction includes FEMSA’s transportation management operations in Mexico, as well as its contract logistics operations in Mexico, Colombia and Brazil. The transaction does not include FEMSA’s LTL (less-than-truckload) operations in Brazil. Total consideration for this transaction will be of approximately $4,060 million Mexican pesos, on a cash-free, debt-free basis. This transaction represents an additional step in the continued execution of the FEMSA Forward plan that was communicated in February of 2023. The transaction is subject to regulatory approvals and other customary cond
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