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Femsa buys stake in US retailer

Friday, September 27, 2019

Mexican conglomerate Femsa said it had signed a non-binding agreement to acquire a minority stake in U.S. cash-and-carry retailer Jetro Restaurant Depot, adding to recent investments by Mexican firms abroad.

Femsa, one of Mexico’s biggest firms, said $750 million of investment was foreseen in accord with Jetro, Reuters reports.