Welcome to our dedicated page for Fomento Mexicano news (Ticker: FMX), a resource for investors and traders seeking the latest updates and insights on Fomento Mexicano stock.
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.
Summary not available.
Fomento Económico Mexicano (FEMSA) has signed an agreement to acquire all remaining shares of NET PAY, becoming the 100% owner. This follows a minority stake acquisition in 2019. The acquisition aims to enhance FEMSA's offerings for micro, small, and medium-sized businesses in Mexico with improved payment services. CEO Jose Antonio Fernández emphasized the strategic importance, highlighting that this move will simplify transactions and increase profitability for small business owners. The transaction awaits customary closing conditions and government approvals, expected to close in Q1 2023.
Fomento Económico Mexicano, S.A.B. de C.V. (FMX) reported a robust third quarter for 2022, highlighting a 20.5% increase in consolidated revenues compared to Q3 2021. Significant growth was observed across divisions: Proximity revenues rose by 20.6%, and Coca-Cola FEMSA experienced an 8.4% increase in total volume. Additionally, the health division reported 6.3% same-store sales growth on a currency-neutral basis. The digital platform, Spin by OXXO, reached 4.3 million users, while OXXO Premia gained 22.3 million loyalty users.
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.