Fomento Economico Mexicano (Femsa), the main bottler of Coca-Cola announced it will acquire 227 Pemex gas stations, which it is actually already operating under the brand Oxxo Gas. The company entered the gasoline business in 1995, but under the law it could only do so through third parties who had Pemex franchises because it had foreigners among its shareholders.
Under the recently passed energy reforms, private operators, including foreigners, will now be permitted in the retail gasoline business. Femsa told reporters it plans to buy the gas station operations where it has agreements with Pemex franchisers and operates under the brand Oxxo Gas.
According to Femsa it will lease, buy or open more stations in the future. In its filing on Thursday with the Mexican Stock Exchange (BMV), in which it submitted its fourth quarter financial report, Femsa said “it decided to pursue a strategy of accelerated growth in this business.”
(from Economía)
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