FEMSA Boosts Share Repurchase Plan, Accelerates Forward Strategy with $300 Million ASR

Fomento Economico Mexicano S.A.B. de C.V. (FMX) has completed a $260 million accelerated share repurchase (ASR) program, repurchasing 2.5 million American Depositary Shares (ADSs) at an average price of $104.41 per ADS. The company has also entered a new ASR agreement to repurchase up to $300 million of its ADSs, with an initial delivery of 591,774 ADSs in March. The ASR agreements are part of FMX's focus on its Forward Strategy, which emphasizes long-term value creation and prudent financial management.