Mexico's FEMSA Acquires Retail Assets from Delek U.S. for $385 Million
By Michael Susin
Mexican retail and beverages company Fomento Economico Mexicano said on Thursday that it entered into a definitive agreement with Delek U.S. Holdings to acquire their retail business for a cash consideration of $385 million.
Femsa, as the company is known, said its subsidiary will buy 100% of the equity in Delek's subsidiaries that operate in the retail business. The deal also includes the purchase of inventories.
The acquisition is expected to close sometime late in the third quarter or in the fourth quarter of 2024, it added.
Delek US Holdings is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, renewable fuels and convenience store retailing operating mostly in the southwestern U.S.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
August 01, 2024 09:26 ET (13:26 GMT)
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