Mexico's Femsa eyes $13.91 billion capex in five years
In this article:
MEXICO CITY, Feb 15 (Reuters) - Mexican retailer Femsa plans to spend more than 237 billion pesos ($13.91 billion) in the next five years to grow its business and return capital to shareholders, following a series of divestments of non-core units aimed at boosting capital.
Femsa said in a filing on Thursday that it plans to return to shareholders about 6% of its market value in the next two or three years through additional dividends and share buybacks. ($1 = 17.0383 Mexican pesos) (Reporting by Valentine Hilaire; Editing by Brendan O'Boyle)
