:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/FOR67PNP3WR4GFWYU3VAHADX7U.jpg "FEMSA approved the divestment of Heineken to pay its debt 1")
The Mexican FEMSA announced on Wednesday that, within two to three years, it will bring its shares in Heineken, which is equivalent to 14% of the Dutch brewer, to the market and will use the resources to repay part of its debt and finance its growth through the future through higher capital investments (CAPEX).
Goodbye to boxes: Oxxo has opened its first fully digital store in Monterrey
Payment in Oxxo Grab&Go stores is made automatically, when leaving the establishment
In a statement posted on its website, “Fomento Económico Mexicano, SAB de CV (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) today announced that its Board of Directors has approved a new long-term plan to maximize value creation, as well as certain decisions resulting from its strategic review”.
After an analysis carried out during 2022, the company – which among other things manages Oxxo stores– considers that the best way to maximize the creation of long-term value is to “focus on its key business verticals”.
The CEO of FEMSA, the company that owns Oxxo stores, has been diagnosed with cancer
According to the information disseminated, Daniel Rodríguez will continue to occupy his position during his treatment
According to his explanation, the sale of Heineken is subject to market conditions and the directors appointed by FEMSA will resign from Heineken’s boards. “FEMSA will explore strategic alternatives for Envoy Solutions, as well as for its other minority investments and other non-core and non-strategic business units. FEMSA will reduce its existing debt to achieve leverage of approximately 2x net debt/EBITDA ex-KOF1, to maintain a strong investment grade credit rating. Capital in excess of what is needed for organic and inorganic growth in our core businesses will be returned to FEMSA shareholders over time. »
José Antonio Fernández Carbajal, Executive Chairman of the FEMSA Board of Directors, shared his position on the decisions announced by the company for which he is responsible, highlighting the strategy that will simplify the structure of the company. “After thoroughly analyzing our business platforms, including their strategic opportunities, long-term plans and the best strategy to continue to drive growth and future capital allocation, the FEMSA Board of Directors approved a series decisive actions. When completed, these actions will significantly simplify FEMSA’s corporate structure, providing greater clarity and strategic direction. In addition, they will allow us to provide capital returns to our shareholders over time.
This is the trajectory of Daniel Rodríguez, the FEMSA executive who was diagnosed with colon cancer
Last Monday, it was announced that the General Manager of FEMSA Comercio had colon cancer and would continue in his position while undergoing treatment.
CEO of FEMSA, Daniel Rodriguez Cofre, taken a position on recent decisions taken by the company.
“After the definition and approval of FEMSA’s long-term plan, we are convinced that the best way to continue to create value at FEMSA is through a structure focused solely on the professions that are essential to us, where we have built leading platforms, with proven capabilities, financial strength and dynamic growth paths. Similarly, we provide the strategic framework, priorities and capital structure parameters that will increase visibility towards FEMSA for the investors and market players. We are confident that the FEMSA Forward vision announced today will position our business to create significant long-term economic, social and sustainable value for all of our shareholders.
“New Strategic Vision to Promote Growth and Competitiveness” was the title of a fact sheet that FEMSA shared on its social media.
“After an in-depth strategic review process, FEMSA today announces the definition of a new approach that will enable it to boost its growth and its competitiveness over the long term, to strengthen its digital capabilities, to consolidate a balanced return/risk profile and above all, to promote the creation of value for its shareholders, customers, employees, suppliers and communities in which it operates”.
FEMSA has announced that on February 17, it will offer a conference call to clarify any doubts about the measures taken.