FMX - FEMSA completes Accelerated Share Repurchase Agreement and announces new Agreement | Benzinga
MONTERREY, Mexico, June 10, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:FMX, BMV:FEMSAUBD, FEMSAUB)) announces today that it has entered into a new derivative instrument in the form of an accelerated share repurchase transaction ("ASR") to repurchase the Company's American Depositary Shares ("ADSs")1. Under the terms of this new ASR, FEMSA has agreed to repurchase up to USD $600 million 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 ...