fomento economico mex-sp adr (FMX) Key Developments
Four Firms Interested in Cruz Verde
Apr 13 15
KKR & Co. L.P. (NYSE:KKR), The Carlyle Group LP (NasdaqGS:CG), CVS Health Corporation (NYSE:CVS) and Fomento Económico Mexicano, S.A.B de C.V (BMV:FEMSA UBD) are reportedly interested in Farmacias CruzVerde S.A. Their final offers will be received in late April 2015. The sale process is being handled by JPMorgan. The owners may decide not to sell 100% of the business.
Fomento Econ Mico Mexicano, S.A.B. De C.V. Announces Cash Dividend, Payable on May 7, 2015 and November 5, 2015
Mar 19 15
Fomento Econ mico Mexicano, S.A.B. de C.V. announced the payment of a cash dividend in the amount of MXN 7,350 million, consisting of MXN 0.4581 per each Series D share and MXN 0.3665 per each Series B share, which amounts to MXN 2.1992 per BD Unit or MXN 21.992 per ADS, and MXN 1.8327 per B Unit. The dividend payment will be split in two equal payments, payable on May 7, 2015 and November 5, 2015.
Femsa Provides Capex Guidance for the Year 2015
Feb 27 15
Femsa envisages capital investments (capex) of some USD 1.350 billion for 2015. A total USD 430 million of the investments will go to the Femsa Comercio division, which operates the Oxxo convenience stores and will also take over the adjacent Oxxo Gas stations. The funds will be mainly used to open new stores and to expand into the fuel retail segment after Mexico's energy reform ended the monopoly of state-owned Pemex. The company also said that Femsa will invest USD 850 million in its franchise bottler Coca-Cola FEMSA (KOF) in 2015.
Fomento Económico Mexicano, S.A.B de C.V Announces Consolidated Earnings Results for the Fourth Quarter and Full Year of 2014
Feb 26 15
Fomento Económico Mexicano, S.A.B de C.V announced consolidated earnings results for the fourth quarter and full year of 2014. For the quarter, the company reported total revenues decreased 0.5% and income from operations grew 0.8% compared to the fourth quarter of 2013. Net income for the quarter increased 20%- 26%, reflecting growth in FEMSA's participation in Heineken's net income and a lower effective tax rate.
For the year, the company reported total revenues increased 2.1% and income from operations grew 0.4% compared to 2013.
Fomento Económico Mexicano, S.A.B de C.V Proposes Ordinary Dividend for 2014
Feb 26 15
Fomento Económico Mexicano, S.A.B de C.V's Board of Directors proposed ordinary dividend of MXN 7.350 billion to be paid in 2015 subject to approval at the annual shareholders meeting in March 2015.