Monterrey, Mexico / Muttenz, Switzerland, September 12, 2022 – Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”; BMV: FEMSAUBD.MX; FEMSAUB.MX; NYSE: FMX) today published the provisional interim result of its public tender offer (“Offer”) by FEMSA’s wholly owned subsidiary Impulsora de Marcas e Intangibles, S.A. de C.V., to acquire all publicly held registered shares of Valora Holding AG (“Valora”; SIX: VALN) at a price of CHF 260.00 net in cash per share as pre-announced on July 5, 2022. Based on preliminary figures, 3,698,481 Valora shares have been tendered into the Offer as of the end of the offer period. Taking into account the tendered Valora shares and the Valora shares held by the persons acting in concert with the offeror, FEMSA’s participation amounts to a total of 3,705,570 Valora shares in aggregate, corresponding to 84.41% of the issued share capital and voting rights of Valora. FEMSA appreciates this strong support for joining forces with Valora by the Valora shareholders.
The provisional notice of the interim result is available at https://femsa.gcs-web.com/valora-transaction.
Subject to confirmation in the definitive notice of the interim result scheduled for September 15, 2022, the minimum acceptance offer condition, being the valid tender of two-thirds of the fully diluted share capital of Valora, has been met. The additional acceptance period for the Offer will start on September 16, 2022, and is expected to last until September 29, 2022, at 4 p.m. Swiss time.
Completion of the Offer is subject to other customary conditions, including regulatory approvals, as set forth in the Offer Prospectus. After the settlement of the Offer and in accordance to the conditions set forth in the Offer Prospectus, FEMSA intends to initiate a squeeze-out procedure and delist the Valora shares from trading on SIX Swiss Exchange.
The indicative timetable for the closing of the offer is as follows:
|Thursday, September 15, 2022||Definitive notice of the interim result of the Offer|
|Friday, September 16, 2022||Start of the additional acceptance period|
|Thursday, September 29, 2022||End of the additional acceptance period, 4:00 p.m. Swiss time|
|Friday, September 30, 2022||Provisional notice of the end result of the Offer|
|Wednesday, October 5, 2022||Definitive notice of the end result of the Offer|
|Friday, October 7, 2022|
|Settlement of the Offer (subject to satisfaction of remaining offer conditions, including regulatory approvals)|