Fomento Económico Mexicano, S.A.B. de C.V. (BMV:FEMSA UBD) announces a share repurchase program. Under the program, the company has entered into an agreement with a financial institution in the United States of America to repurchase up to $ 400 million worth of its American Depositary Shares. The purpose of the program is to enhance capital returns to shareholders.

The ASR contemplates an initial delivery of approximately 20% of the shares on or about March 19, 2024. The final settlement of the ASR agreement is expected to be completed no later than the third quarter of 2024.