Welcome to our dedicated page for Fomento Económico Mexicano, S.A.B. de C.V. news (Ticker: $FMX), a resource for investors and traders seeking the latest updates and insights on Fomento Económico Mexicano, S.A.B. de C.V. stock.
Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) is a renowned Mexican multinational conglomerate headquartered in Monterrey, Mexico. FEMSA stands out in the beverage and retail sectors across Central and South America, operating the world's largest independent Coca-Cola bottling group and Mexico's largest convenience store chain.
FEMSA is structured into several divisions:
- Retail Division: This includes OXXO, the leading convenience store chain in Mexico with expanding operations under Proximity Americas and Proximity Europe divisions. The European division includes Valora, which operates convenience and foodvenience formats.
- Health Division: FEMSA operates drugstores and related activities through this division, alongside Digital@FEMSA, which encompasses digital financial services such as Spin by OXXO and Spin Premia.
- Beverage Division: Coca-Cola FEMSA, the largest bottler of Coca-Cola products globally by volume, forms a significant part of FEMSA's operations.
- Strategic Business Unit: This division handles logistics, distribution, point-of-sale refrigeration, and plastic solutions, serving both FEMSA's units and third-party clients.
In 2023, FEMSA divested its 15% stake in Heineken and its distribution business, focusing on its core sectors. Coca-Cola FEMSA and the OXXO chain collectively constituted 75% of FEMSA's total revenue and approximately 90% of its profits in 2023.
FEMSA's latest significant financial move includes a comprehensive Tender Offer to purchase outstanding US$552.83 million worth of 4.375% Senior Notes due 2043, with settlement concluded on November 9, 2023. This is part of FEMSA's strategic initiatives announced in February 2023, aimed at optimizing its business platform.
With over 350,000 employees across 18 countries, FEMSA is committed to creating economic and social value. The company is also recognized for its sustainability practices, featuring in indexes such as the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index.
FEMSA continues to focus on growth through strategic investments and partnerships, strengthening its position as a key player in the beverage and retail industries.
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