MONTERREY, Mexico and MUTTENZ, Switzerland, Oct. 10, 2022 (GLOBE NEWSWIRE) — Fomento Económico Mexicano, SAB de CV (“FEMSA”, BMV:FEMSAUBDFEMSAUB.MX, NYSE:FMX) today announces the completion of its public offer to purchase (“Offer”) by FEMSA’s wholly owned subsidiary, Impulsora de Marcas e Intangibles, SA de CV, for all publicly held registered shares of Valora Holding AG (“Valora”; SIX: VALN) known. . The transaction was successfully completed as expected on October 7, 2022.
FEMSA currently holds 97.77% of Valora’s share capital and intends to initiate a squeeze-out process and demand the cancellation of the remaining public shares. FEMSA also intends to delist Valora shares from trading on the SIX Swiss Exchange.
Daniel Alberto Rodríguez Cofré, CEO of FEMSA, comments: “We are delighted to have completed the acquisition of Valora as it marks the beginning of our fruitful future together. I would like to thank our employees and other key stakeholders who have shown their support throughout the process. We look forward to further expanding Valora’s successful strategy with the continued support of Valora’s management and team members to collectively create the European convenience leader to develop stores and food service.”
Michael Mueller, CEO of Valora, adds: “Today marks another milestone in Valora’s history. We will further strengthen our already strong European market position as part of a larger, global organization. Joining forces with FEMSA will allow us to accelerate our growth-oriented strategy in the convenience store and food service business as well as strengthening our innovation and digitalization capabilities. I look forward to taking advantage of the diverse opportunities this transaction opens up.”
| FEMSA contact: | ||
| Juan Fonseca | Phone: | +52 81 83 28 6229 |
| Investor Relations Director | E-mail: | investor@femsa.com |
| Maurice Reyes | Phone: | +52 81 83 28 6000 |
| Head of Corporate Communications | E-mail: | comunicacion@femsa.com |
| Valora contact: | Source Story here
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