Femsa to Buy Valora for Up to $1.2 Billion in Europe Push
- Valora to keep its own name, brands, Swiss headquarters
- Femsa to finance the Valora acquisition with cash on hand
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Fomento Economico Mexicano, the largest operator of convenience stores in Latin America, agreed to buy Switzerland’s Valora for as much as $1.2 billion to push into Europe.
Femsa, as the company is known, offered 260 francs ($270.30) a share, a premium of 52% to Monday’s closing price, the companies said in a statement. Valora climbed as much as 51% to 258 francs in Swiss trading.