The company Fomento Económico Mexicano (FEMSA) announced a definitive agreement with AMMI, a leading diversified corporation in the production of non-GMO corn and sustainable plastic packaging, a subsidiary of Milenio Capital. Under this agreement, FEMSA will divest its plastic solutions operations for a total amount of three billion 165 million pesos (mdp), net of cash and debt.
The transaction is still subject to regulatory approvals and other usual conditions, with the expectation of closing in the coming months. According to FEMSA, this operation is part of the execution of the FEMSA Forward plan, which was presented in February 2023.
In FEMSA's words:
"This operation represents an additional step in the ongoing execution of the FEMSA Forward plan, which was communicated in February 2023."
