Fomento Economico Mexicano (Femsa) announced that it has reached a definitive agreement with AMMI, a leading diversified company focused on the production of non-GMO corn and sustainable plastic packaging, a subsidiary of Milenio Capital, to divest Femsa's plastic solutions operations, for a total of three thousand 165 million pesos (mp), after deducting cash and debt.
It added that the transaction is subject to regulatory approvals and other customary conditions, and is expected to be completed in the coming months.
Likewise, he said that this operation was an additional step in continuing the implementation of the FEMSA Forward plan which was communicated in February 2023.