FEMSA Signs Agreement with The Coca-Cola Company
By Femsa, PRNETuesday, March 9, 2010
MONTERREY, Mexico, March 11, 2010 - Fomento Economico 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 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.
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.
Investors, +52-818-328-6167, investor at femsa.com.mx; or Media, +52-818-328-6046, comunicacion at femsa.com
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