Fomento Economico Mexicano Sab De Cv (FMX) Announces New Share Buyback

Go back to Fomento Economico Mexicano Sab De Cv (FMX) Announces New Share Buyback

FEMSA completes Accelerated Share Repurchase Agreement, and announces new Agreement

June 10, 2024 9:40 AM EDT

MONTERREY, Mexico, June 10, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA or the Company) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today that it has entered into a new derivative instrument in the form of an accelerated share repurchase transaction (ASR) to repurchase the Companys American Depositary Shares (ADSs)1. Under the terms of this new ASR, FEMSA has agreed to repurchase up to USD $600 million of its ADSs. The total number of ADSs ultimately repurchased under this ASR will be based on the daily volume-weighted average price of the Companys ADSs during the term of the... More