Femsa enters agreement with Traxion to divest certain logistics operations

Fomento Economico Mexicano (FMX) has reached a definitive agreement with Grupo Traxion (GRPOF) to divest certain of FEMSA’s logistics operations doing business as Solistica. The transaction includes FEMSA’s transportation management operations in Mexico, as well as its contract logistics operations in Mexico, Colombia and Brazil. The transaction does not include FEMSA’s LTL operations in Brazil. Total consideration for this transaction will be of approximately $4,060 million Mexican pesos, on a cash-free, debt-free basis. This transaction represents an additional step in the continued execution of the FEMSA Forward plan that was communicated in February of 2023. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in the following months.