FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. - FMX STOCK NEWS

FEMSA (NYSE: FMX) has successfully completed the previously announced divestiture of its refrigeration and foodservice equipment operations, Imbera and Torrey, to Mill Point Capital The transaction, which was initially disclosed on July 17, 2024, has been concluded for a total amount of 8,000 million pesos on a cash-free, debt-free basis.

FEMSA (NYSE: FMX) has announced a definitive agreement to sell its plastics solutions operations to AMMI, an affiliate of Milenio Capital, for 3,165 million pesos on a cash-free, debt-free basis. The transaction, which is part of the FEMSA Forward plan announced in February 2023, is subject to regulatory approvals and other customary conditions. The deal is expected to close in the coming months.

FEMSA reported strong Q3 2024 results with total consolidated revenues growing 8.3% and income from operations increasing 14.6% compared to Q3 2023. Proximity Americas saw revenue growth of 4.8%, while Coca-Cola FEMSA achieved 10.7% revenue growth and 13.9% operating income growth. Digital services showed significant user base expansion, with Spin by OXXO reaching 8.2 million active users (28.9% growth) and Spin Premia reaching 23.8 million active loyalty users (34.6% growth). Despite a soft consumer environment, particularly in Mexico, most business units delivered encouraging results with revenue growth and margin expansion.

FEMSA (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) has announced its upcoming Third Quarter Conference Call, scheduled for Monday, October 28, 2024, at 10:30 AM Eastern Time (8:30 AM Mexico City Time). Investors and interested parties can participate by dialing the provided toll-free US number or international number, using the Conference ID: FEMSA.

The company will release its quarterly results on October 28 before markets open. For those unable to attend live, a conference call replay will be available on FEMSA's investor relations website. Additionally, the call will be webcast live through streaming audio, with details available on the company's IR website.

FEMSA (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) has announced a definitive agreement with Grupo Traxión to divest certain logistics operations of its Solistica business. The transaction includes:

• Transportation management operations in Mexico
• Contract logistics operations in Mexico, Colombia, and Brazil

The deal, valued at approximately 4,060 million Mexican pesos, excludes FEMSA's LTL operations in Brazil. This divestment aligns with the FEMSA Forward plan announced in February 2023. The transaction is subject to regulatory approvals and other conditions, with closure expected in the coming months.

Delek US Holdings, Inc. (NYSE:DK) has successfully closed the sale of its retail business to a subsidiary of FEMSA (NYSE:FMX). The transaction, which was previously announced, involved the sale of 100% of the equity interests in Delek's retail subsidiaries for a cash consideration of approximately $385 million, including inventory purchases.

Avigal Soreq, President and CEO of Delek, expressed satisfaction with the transaction, describing it as an important step in the company's value creation journey. He also indicated a desire to build upon the relationship with FEMSA in the future and extended well wishes to the Delek US Retail employees as they become part of FEMSA's growth strategy in the United States.

FEMSA (NYSE: FMX) has announced its entry into the US convenience store industry by acquiring Delek's retail operations for $385 million. The deal includes 249 convenience stores, primarily located in Texas, operating under the DK brand. This strategic move allows FEMSA to tap into the $850 billion US convenience and mobility market, leveraging its OXXO brand expertise.

The acquisition aligns with FEMSA's long-term ambition to expand into the US market, utilizing its extensive retail experience from operations in Mexico and other countries. The transaction is expected to close in the second half of 2024, subject to regulatory approvals.

FEMSA and Delek US Holdings have signed a definitive agreement for FEMSA to acquire 100% of Delek's retail business for $385 million. The transaction includes 249 corporate stores operating under the DK brand, primarily in Texas and New Mexico. This marks FEMSA's entry into the US convenience and mobility industry, expanding its global retail operations. For Delek, this sale aligns with their strategy to unlock value for stakeholders and gain a competitive partner for ongoing retail fuel sales. The deal is expected to close in late Q3 or Q4 2024.

FEMSA, a Mexican conglomerate, operates over 22,800 OXXO stores across 5 countries. Delek US Holdings is a diversified downstream energy company with assets in refining, logistics, pipelines, renewable fuels, and convenience store retailing.

FEMSA announced its Q2 2024 results, showing strong performance across core business units. Total Consolidated Revenues grew 12.2% compared to Q2 2023. Proximity Americas saw an 8.9% increase in total Revenues, while Coca-Cola FEMSA reported 13.1% revenue growth. Digital services showed significant user growth, with Spin by OXXO increasing active users by 37.0% to 7.9 million.

Key financial highlights include:

• FEMSA Consolidated: 19.1% increase in Gross Profit, 15.8% growth in Income from Operations
• Proximity Americas: 17.2% increase in Gross Profit, 7.6% growth in Income from Operations
• Coca-Cola FEMSA: 17.2% increase in Gross Profit, 13.8% growth in Income from Operations

The company continued to execute its capital allocation framework, returning capital to shareholders through dividends and share buybacks. FEMSA also progressed with its divestiture plans, including the sale of its stake in Jetro Restaurant Depot.