Femsa announces new $600M accelerated share repurchase transaction

Femsa announces that it has entered into a new derivative instrument in the form of an accelerated share repurchase transaction to repurchase the company’s American Depositary Shares. Under the terms of this new ASR, FEMSA has agreed to repurchase up to $600M 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 Company’s ADSs during the term of the ASR and subject to certain limitations. The final settlement of the ASR is expected to be completed, at the latest, in the fourth quarter of 2024. Additionally, the company announces the completion of the ASR announced in March 2024, which final delivery of the shares repurchased thereunder was on May 28, 2024. The company repurchased a total of approximately 3.2M ADSs at an average price of $123.27 per ADS, for a total amount of $400M.