FEMSA To Sell Certain Logistics Operations For $4.060 Bln Mexican Pesos To Grupo Traxion

(RTTNews) - Fomento Economico Mexicano, S.A.B. de C.V. or FEMSA (FMX), a Mexican beverage and retail company, announced on Thursday that it has reached a deal with Grupo Traxion, S.A.B. de C.V, a transportation and logistics firm, to divest some of its logistics operations, Solistica, for around $4.060 billion Mexican pesos, on a cash-free, debt-free basis.

The transaction includes FEMSA's transportation management operations in Mexico, as well as its contract logistics operations in Mexico, Colombia, and Brazil.

The transaction, expected to be closed in the coming months, represents an additional step in the continued execution of the FEMSA Forward plan.

The transaction does not include FEMSA's less-than-truckload or LTL operations in Brazil.