FOMENTO ECONÓMICO MEXICANO, S.A. DE C.V.
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By:
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/s/ Javier Astaburuaga | |
Javier Astaburuaga | |||
Chief Financial Officer |
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Latin
America’s Beverage Leader
FEMSA
Signs Agreement with
The
Coca -Cola Company
Monterrey, Mexico, March 10,
2010 — Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE:
FMX, BMV: FEMSAUBD) announces that subsidiaries of FEMSA have signed an
agreement with subsidiaries of The Coca-Cola Company (NYSE: KO) to amend
the Shareholders Agreement for Coca-Cola FEMSA, S.A.B. de C.V. (“Coca-Cola
FEMSA”) (NYSE: KOF, BMV: KOFL). The main purpose of the amendment is to
set forth that the appointment and compensation of the chief executive
officer and all officers reporting to the chief executive officer, as well
as the adoption of decisions related to the ordinary operations of
Coca-Cola FEMSA shall only require a simple majority vote of the board of
directors. Decisions related to extraordinary matters (such as business
acquisitions or combinations, among others), shall continue requiring of
the vote of the majority of the board of directors, including the
affirmative vote of two of the members appointed by The Coca-Cola
Company.
These
changes will be reflected in the by-laws of Coca-Cola FEMSA that shall be
amended in the extraordinary shareholders meeting of Coca-Cola FEMSA to be
held on April 14, 2010.
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FEMSA
is the leading beverage company in Latin America. It controls an
integrated beverage platform that comprises Coca-Cola FEMSA, the largest
Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers
in Mexico, with presence in Brazil, and an important beer exporter to the
United States and other countries; and OXXO, the largest and fastest
growing convenience store chain in Mexico with over 7,300
stores.
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