This program, as explained by the company in a statement, is in line with its capital allocation strategy, and the commitment to increase capital returns to its investors.

The business conglomerate Fomento Economico Mexicano (Femsa) has signed a derivative financial instrument, liquidable in kind, known as accelerated share repurchase, with a United States financial institution to repurchase the company's securities through the acquisition of its shares in said country.

Within the terms of the program, Femsa has agreed to repurchase a total amount of US$400 million. An initial delivery of approximately 20% would occur on or around March 19.

This program, as explained by the company in a statement, is in line with its capital allocation strategy, and the commitment to increase capital returns to its investors.

The total number of securities ultimately repurchased under the program will be based on the daily volume-weighted average price of the company's shares over the life of the program, subject to certain limitations.

Final settlement of the program is expected to be completed no later than the third quarter of 2024.