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FEMSA Reaches 97% Stake in Valora in Additional Offer Acceptance Period

MT Newswires ·  09/30 13:41

01:38 AM EDT, 09/30/2022 (MT Newswires) -- Mexico-based retailer Fomento Económico Mexicano, or FEMSA, secured a 96.87% stake in Valora (VALN.SW) following the close of an additional acceptance period for its $1.2 billion offer.

FEMSA now holds 4,252,410 shares in the Swiss convenience store operator and expects to launch a squeeze-out procedure and delisting of Valora shares from the Swiss bourse shortly, according to a Friday release.

The public tender offer is scheduled to be settled on Oct. 7, subject to the remaining offer conditions, including regulatory approvals.

Valora shares were flat on Thursday's close.

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