Key Developments: Fomento Economico Mexicano SAB de CV (FMX)
23 May 2013
Latest Key Developments (Source: Significant Developments)
Fomento Economico Mexicano SAB de CV announced a placement of bonds in two issues in American dollars on the international market: in the amount of USD 300 million, with a maturity of 10 years, and in the amount of USD 700 million, with a maturity of 30 years . Full Article
Fomento Economico Mexicano SAB de CV announced that its retail subsidiary, FEMSA Comercio, has closed the acquisition of a 75% stake in Farmacias YZA after obtaining all regulatory approvals. Full Article
Fomento Economico Mexicano SAB de CV announced that on March 15, 2013 at the General Annual Meeting the shareholders approved a dividend payment for fiscal year 2012 in the total amount of MXN 6,684 million, at a value of MXN 0.416666 per series D share and at a value of MXN 0.333333 per series B share, which corresponds to the total of MXN 2.00 per Unit BD, which is equivalent to MXN 20.00 per ADR and a total of MXN 1.666667 per Unit B. The dividend will be distributed in two equal installments, effective on May 7, 2013 and November 7, 2013. Full Article
Standard & Poor’s announced that it has confirmed its long-term credit ratings on Fomento Economico Mexicano SAB de CV at mxAAA, as well as its short-term credit rating at mxA-1+, both on the national scale -CaVal-. The outlook is stable. Full Article
Fomento Economico Mexicano SAB de CV announced that Fitch Ratings has assigned a long-term credit rating to the Company at AAA(mex) on the national scale, and a short-term credit rating at F1+(mex) on the national scale. The outlook is stable. Full Article
Fomento Economico Mexicano SAB de CV announced that its subsidiary, FEMSA Comercio, has acquired 75% of the share capital in Farmacias YZA. The transaction is subject to the approval of relevant authorities and is expected to be completed during the first quarter of 2013. Full Article
Ecolab Inc Announces Agreement To Purchase Quimiproductos S. A. de C. V. From Fomento Económico Mexicano, S.A.B. de C.V.
Ecolab Inc announced that it has agreed to purchase Quimiproductos S. A. de C. V., a wholly owned subsidiary of Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA). Quimiproductos is a manufacturer and provider of cleaning and sanitizing and water treatment products and services to beverage and brewery customers in Mexico; it also operates in several Central and South American countries. Completion of the transaction is subject to customary regulatory clearance and other standard closing conditions. No further details were disclosed. Full Article
MEXICO CITY, May 21 - Shares in Mexican bottling and retail company Femsa fell more than 4 percent to 134.34 pesos on Tuesday after Swiss bank Credit Suisse cut its view to underperform.