Fomento Económico Mexicano, S.A.B. de C.V. reports operating and financial developments for a Mexico-based beverage and retail group whose ADR trades as FMX. FEMSA's recurring updates cover OXXO small-format stores in Mexico and other Americas markets, fuel operations, Valora convenience and foodvenience formats in Europe, Health drugstores, Spin by OXXO and Spin Premia digital services, and its participation in Coca-Cola FEMSA.
FEMSA also announces segment-structure updates, quarterly results, conference-call notices, annual meeting materials, dividend actions, governance items and completed portfolio changes such as the assumption of full ownership of OXXO Brazil. These developments connect retail expansion, same-store sales, beverage bottling performance and capital-return decisions to FEMSA's public-company reporting.
FEMSA Announces Leadership Changes
On October 13, 2022, FEMSA appointed Ian Craig as CEO of Coca-Cola FEMSA, effective January 1, 2023, succeeding John Santa María, who retired after 27 years. Ian, previously CEO of Coca-Cola FEMSA Brazil, brings extensive experience, having been with FEMSA for 28 years. Concurrently, Constantino Spas will succeed Alfonso Garza as CEO of FEMSA Strategic Businesses, also effective January 1, 2023. Constantino has served as CFO at Coca-Cola FEMSA since 2018, contributing to significant transformation efforts. These changes reflect FEMSA's commitment to long-term talent development.
FEMSA has successfully completed its acquisition of Valora Holding AG, achieving 97.77% ownership by October 7, 2022. The company plans to initiate a squeeze-out and delisting of Valora shares from the SIX Swiss Exchange. This acquisition is seen as a strategic move to strengthen FEMSA's presence in the European market for convenience stores and food services. Both CEOs expressed optimism about future growth, innovations, and synergies from this merger. Valora generated CHF 2.2 billion in sales in 2021 and operates around 2,700 locations across multiple countries.
Fomento Económico Mexicano (FMX) announced its subsidiary Compropago has received authorization from the Comisión Nacional Bancaria y de Valores to operate as an electronic payment funds institution in Mexico. This milestone is a significant step for FEMSA's digital strategy, aligning with efforts to enhance financial inclusion for over 4 million registered users. The CEO emphasizes the importance of this achievement for both economic and social value in local communities, reinforcing a secure and compliant business model.
Fomento Económico Mexicano, S.A.B. de C.V. (FMX) will host its Third Quarter 2022 Conference Call on October 31, 2022, at 11:00 AM Eastern Time. The quarterly results will be released on October 28, prior to market opening. Interested participants can join the call by dialing toll-free US: (866) 580 3963 or international: +1 (786) 697 3501 with Conference ID: 1317423. The call will be available for live streaming on the company’s investor relations website, and a replay will also be accessible thereafter.
FEMSA has successfully completed its public tender offer for Valora Holding AG, acquiring 96.87% of Valora's shares at a price of CHF 260.00 per share. A total of 4,234,923 shares were tendered. All necessary regulatory clearances have been received, allowing the settlement of the offer on October 7, 2022. Following the settlement, FEMSA plans to initiate a squeeze-out procedure and delist Valora shares from the SIX Swiss Exchange. The transaction reflects strong support from Valora shareholders.
Fomento Económico Mexicano (FEMSA; NYSE: FMX) has received all regulatory approvals for its public tender offer to acquire Valora Holding AG at CHF 260.00 per share. The settlement is scheduled for October 7, 2022, following the definitive notice of the offer's results on October 5, 2022. After the acquisition, FEMSA plans to initiate a squeeze-out procedure and delist Valora shares from the SIX Swiss Exchange. This move aligns with FEMSA's strategy to enhance its portfolio in the convenience and food sectors.
Fomento Económico Mexicano (FEMSA) has successfully completed its public tender offer to acquire Valora Holding AG shares at CHF 260.00 each. A total of 4,234,923 shares were tendered, giving FEMSA control over 96.87% of Valora's share capital. The completion of the offer now depends on regulatory approvals, after which FEMSA plans to initiate a squeeze-out procedure to delist Valora from the SIX Swiss Exchange. The definitive notice of the offer's results is expected on October 5, 2022, with settlement anticipated on October 7, 2022.
FEMSA has confirmed that it received strong support for its public tender offer for Valora Holding AG, acquiring 84.42% of Valora's share capital by tendering 3,698,762 shares at CHF 260.00 per share. The offer's minimum acceptance condition has been met, and an additional acceptance period runs from September 16 to September 29, 2022. Following the offer's completion, FEMSA plans to initiate a squeeze-out procedure and delist Valora shares from the SIX Swiss Exchange, subject to regulatory approvals. The indicative timetable includes important dates for settlement and final results.
FEMSA has announced the provisional interim results of its public tender offer to acquire Valora Holding AG at a cash price of CHF 260.00 per share. As of the end of the offer period, approximately 3.7 million Valora shares were tendered, giving FEMSA a total stake of 84.41% in Valora. The minimum acceptance condition has been met, allowing for an additional acceptance period from September 16 to September 29, 2022. Completion of the offer is contingent upon regulatory approvals, after which FEMSA plans to initiate a squeeze-out procedure to delist Valora shares from the SIX Swiss Exchange.
Fomento Económico Mexicano (FMX) reported a robust 22.2% increase in consolidated revenues for Q2 2022 compared to Q2 2021, marking a 30.6% growth against Q2 2019. The company's EBITDA margin expanded to 15.3%, setting a record for Q2. Key sectors showed strong performance, including a 9.0% rise in same-store sales for Health and 17.3% growth in Logistics & Distribution revenues. Coca-Cola FEMSA reported an 11.9% growth in total volume. CEO Daniel Rodríguez highlighted the continued recovery post-COVID and plans for further growth.