<SEC-DOCUMENT>0001104659-22-106131.txt : 20221005
<SEC-HEADER>0001104659-22-106131.hdr.sgml : 20221005
<ACCEPTANCE-DATETIME>20221005063232
ACCESSION NUMBER:		0001104659-22-106131
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20221005
FILED AS OF DATE:		20221005
DATE AS OF CHANGE:		20221005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEXICAN ECONOMIC DEVELOPMENT INC
		CENTRAL INDEX KEY:			0001061736
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35934
		FILM NUMBER:		221294493

	BUSINESS ADDRESS:	
		STREET 1:		GENERAL ANAYA NO 601 PTE
		STREET 2:		COLONIA BELLA VISTA
		CITY:			MONTERREY, N.L.
		STATE:			O5
		ZIP:			64410
		BUSINESS PHONE:		528183286167

	MAIL ADDRESS:	
		STREET 1:		GENERAL ANAYA NO 601 PTE
		STREET 2:		COLONIA BELLA VISTA
		CITY:			MONTERREY, N.L.
		STATE:			O5
		ZIP:			64410
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2227478d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WASHINGTON, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of October 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOMENTO ECON&Oacute;MICO MEXICANO, S.A.B. DE C.V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Mexican Economic Development, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of Registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">United Mexican States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Jurisdiction of incorporation or organization)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">General Anaya No. 601 Pte.<BR>
Colonia Bella Vista<BR>
Monterrey, Nuevo Le&oacute;n 64410<BR>
M&eacute;xico</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F <FONT STYLE="font-family: Wingdings">x
</FONT>&nbsp;&nbsp;Form 40-F <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether by furnishing
the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">If &quot;Yes&quot; is marked, indicate below the
file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_____________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>CONTENTS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Press release from Fomento Econ&oacute;mico Mexicano, S.A.B. de
C.V. (FEMSA) and Valora Holding AG (Valora), dated October 5, 2022, regarding FEMSA&rsquo;s definitive end result of its public tender
offer for Valora.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Definitive Notice of the End Result of the Public Tender Offer by
Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V., for all publicly held registered shares with a nominal value CHF 1.00 each of Valora
Holding Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt">FOMENTO ECON&Oacute;MICO MEXICANO, S.A.B. DE
    C.V.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">By: <U>/s/ Eugenio Garza y Garza</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Eugenio Garza y Garza</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director of Finance and Corporate Development</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: &nbsp;October 5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> </P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 9%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">EXHIBIT<BR>
NO.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 91%; text-align: center"><FONT STYLE="font-size: 10pt">DESCRIPTION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2227478d1_ex99-1.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD><A HREF="tm2227478d1_ex99-1.htm"><FONT STYLE="font-size: 10pt">Press release from Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V. (FEMSA) and Valora Holding AG (Valora), dated October 5, 2022, regarding FEMSA&rsquo;s definitive end result of its public tender offer for Valora. </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2227478d1_ex99-2.htm"><FONT STYLE="font-size: 10pt">99.2</FONT></A></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2227478d1_ex99-2.htm">Definitive Notice of the End Result of the Public Tender Offer by Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V., for all publicly held registered shares with a nominal value CHF 1.00 each of Valora Holding Ltd.</A></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2227478d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="tm2227478d1_ex99-1img01.jpg" ALT=""></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Ad hoc announcement pursuant to
article 53 LR</U></B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>FEMSA publishes the definitive end
result of the public tender offer for Valora &ndash; Settlement of the Offer scheduled for Friday, October 7, 2022</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Monterrey, Mexico / Muttenz, Switzerland, October
5,&nbsp;2022 &ndash; Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V. (&ldquo;FEMSA&rdquo;; BMV: FEMSAUBD.MX; FEMSAUB.MX; NYSE: FMX)
today published the definitive end result of its public tender offer (&ldquo;Offer&rdquo;) by FEMSA&rsquo;s wholly-owned subsidiary Impulsora
de Marcas e Intangibles, S.A. de C.V., to acquire all publicly held registered shares of Valora Holding AG (&ldquo;Valora&rdquo;; SIX:
VALN) at a price of CHF 260.00 net in cash per share as pre-announced on July 5, 2022. 4,234,923 Valora shares were tendered into the
Offer until end of the additional acceptance period. Taking into account the tendered Valora shares, the Valora shares acquired by the
offeror outside the Offer during the additional acceptance period and the Valora shares held by the persons acting in concert with the
offeror, FEMSA&rsquo;s participation amounts to a total of 4,252,410 Valora shares in aggregate, corresponding to 96.87%% of the issued
share capital and voting rights of Valora.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FEMSA appreciates this strong support for joining
forces with Valora by the Valora shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FEMSA has received all required regulatory clearances
and the settlement of the Offer is therefore scheduled for Friday, October 7, 2022. The settlement of the Offer is subject to certain
other customary conditions as set forth in the Offer Prospectus. After the settlement of the Offer, FEMSA intends to initiate a squeeze-out
procedure and to delist the Valora shares from trading on SIX Swiss Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The definitive notice of the end result is available
at <U>https://femsa.gcs-web.com/valora-transaction</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">FEMSA contact:</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Juan Fonseca</TD><TD STYLE="width: 18%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 2%"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 28%; font: 10pt Times New Roman, Times, Serif">+52 81 83 28 6229</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Investor Relations Director</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">E-mail:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><U>investor@femsa.com</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Mauricio Reyes</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">+52 81 83 28 6000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Corporate Communications Director</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">E-mail:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><U>comunicacion@femsa.com</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Valora contact:</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Christina Wahlstrand</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">+41 61 467 24 53</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Head of Corporate Communications &amp; Branding</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">E-mail:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><U>media@valora.com</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Annette Carrer-Martin</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">+41 61 467 21 23</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Head of Investor Relations</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">E-mail:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><U>ir@valora.com</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Proxy Advisor contact:</TD><TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Morrow Sodali</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">+44 20 31 48 97 80</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Information Agent</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">E-mail:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><U>valora-offer@investor.morrowsodali.com</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Hotline for private shareholders</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">Phone:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">+41 43 550 72 52</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About FEMSA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FEMSA is a <I>sociedad an&oacute;nima burs&aacute;til
de capital variable</I> organized and existing under the laws of Mexico, whose shares are publicly listed on the Mexican Stock Exchange
(<I>Bolsa Mexicana de Valores</I>) and the New York Stock Exchange. FEMSA owns a diversified portfolio of companies, having direct operations
in 13 countries. FEMSA operates the largest convenience store chain in Mexico and Latin America (OXXO), with more than 20,000 units, as
well as more than 3,600 pharmacies in four Latin American countries (Cruz Verde, Yza and others). FEMSA also owns the largest franchise
bottler of Coca-Cola products in the world in terms of sales volume (Coca-Cola FEMSA), and is the second largest shareholder of the Heineken
group (with an economic interest of 14.76%). The FEMSA Group also owns a variety of smaller companies involved in several adjacent activities
to those of its main businesses, including logistics and distribution, point-of-sale (POS) refrigeration, distribution of products used
by foodservice providers, and plastics solutions. FEMSA has more than 320,000 employees and reported revenues of more than USD 27 billion
in 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">More information is available at <U>www.femsa.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Valora</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each and every day, around 15,000 employees in
the Valora network work to brighten up their customers&rsquo; journey with a comprehensive foodvenience offering &ndash; nearby, quick,
convenient and fresh. The around 2,700 small-scale points of sale of Valora are located at highly frequented locations in Switzerland,
Germany, Austria, Luxembourg and the Netherlands. The company includes, among others, k kiosk, Brezelk&ouml;nig, BackWerk, Ditsch, Press
 &amp; Books, avec, Caff&egrave; Spettacolo and the popular own brand ok.&ndash; as well as a continuously growing range of digital services.
Valora is also one of the world&rsquo;s leading producers of pretzels and benefits from a well-integrated value chain in the area of baked
goods. In 2021, Valora generated annual external sales of CHF 2.2 billion. The Group&rsquo;s registered office is in Muttenz, Switzerland.
The registered shares of Valora Holding AG (VALN) are traded on SIX Swiss Exchange AG.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">More information is available at <U>www.valora.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> of 4</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This announcement contains statements that are,
or may be deemed to be, forward-looking statements. In some cases, these forward-looking statements can be identified by the use of forward-looking
terminology, including the words &quot;aims&quot;, &quot;believes&quot;, &quot;estimates&quot;, &quot;anticipates&quot;, &quot;expects&quot;,
 &quot;intends&quot;, &quot;may&quot;, &quot;will&quot;, &quot;plans&quot;, &quot;should&quot; or similar terminology. These forward-looking
statements include or describe matters that are not historical facts or which may not otherwise be provable by reference to past events.
By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and/or depend
on circumstances that may or may not occur in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Legal Disclaimers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This release is for informational purposes only
and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or
subscribe for any registered shares or other equity securities in Valora Holding AG, nor shall it form the basis of, or be relied on
in connection with, any contract therefor. This release is not part of the offer documentation relating to the tender offer. Terms and
conditions of the tender offer have been published in the offer prospectus regarding the tender offer dated July 26, 2022. Shareholders
of Valora Holding AG are urged to read the tender offer documents, including the offer prospectus, which are or will be available at
<U>https://femsa.gcs-web.com/valora-transaction</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Offer Restrictions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offer is not being made and will not be made,
directly or indirectly, in any country or jurisdiction in which the Offer would be considered unlawful or otherwise violate any applicable
laws or regulations, or which would require FEMSA or any of its direct or indirect subsidiaries, including Impulsora de Marcas e Intangibles,
S.A. de C.V. (the &quot;<B>Offeror</B>&quot;), to change or amend the terms or conditions of the Offer in any material way, to make an
additional filing with any governmental, regulatory or other authority or take additional action in relation to the Offer. It is not intended
to extend the Offer to any such country or jurisdiction. Any such document relating to the Offer must neither be distributed in any such
country or jurisdiction nor be sent into such country or jurisdiction, and must not be used for the purpose of soliciting the purchase
of securities of the Company by any person or entity resident or incorporated in any such country or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to Swiss law, Valora shares tendered
into the Offer may not be withdrawn after they are tendered except under certain circumstances, in particular in case a competing offer
for the Valora shares is launched.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The tender offer is subject to the requirements
of Section 14(e) of, and Regulation 14E under, the U.S. Securities Exchange Act of 1934, as amended (the &quot;U.S. Exchange Act&quot;),
including amendments to the terms and conditions of the tender offer, extensions of the tender offer, purchases outside of the tender
offer and minimum offer period, and is otherwise being made in accordance with the requirements of Swiss law. Accordingly, the tender
offer is subject to disclosure and other procedural requirements, including with respect to withdrawal rights, settlement procedures and
timing of payments that are different from those applicable under U.S. tender offer procedures and laws. Neither the U.S. Securities and
Exchange Commission nor any securities commission of any State of the U.S. has (a) approved or disapproved of the tender offer; (b) passed
upon the merits or fairness of the tender offer; or (c) passed upon the adequacy or accuracy of the disclosure in the offer prospectus.
Any representation to the contrary is a criminal offence in the U.S.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 4</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The communication is not being made by, and has
not been approved by, an authorised person for the purposes of Section 21 of the Financial Services and Markets Act 2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The tender offer is not addressed to shareholders
of Valora whose place of residence, seat or habitual abode is in Australia, Canada or Japan, and such shareholders may not accept the
tender offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 4</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2227478d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="tm2227478d1_ex99-1img01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Definitive Notice of the End Result</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the public tender offer by</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Impulsora de Marcas e Intangibles, S.A. de
C.V., Monterrey, Mexico&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(a wholly-owned subsidiary of Fomento Econ&oacute;mico
Mexicano, S.A.B. de C.V.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">for all publicly held registered shares with a
nominal value of CHF 1.00 each of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Valora Holding Ltd., Muttenz, Switzerland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July&nbsp;26, 2022,&nbsp;Impulsora de Marcas
e Intangibles, S.A. de C.V. (the &ldquo;<B>Offeror</B>&rdquo;) published the offer prospectus (the &ldquo;<B>Offer Prospectus</B>&rdquo;)
for its public tender offer according to article 125 et seq. FMIA (the &ldquo;<B>Offer</B>&rdquo;) for all publicly held registered shares
of Valora Holding Ltd. (&ldquo;<B>Valora</B>&rdquo;) with a nominal value of CHF 1.00 each (each a &ldquo;<B>Valora Share</B>&rdquo;).
The offer price for each Valora Share is CHF 260 net in cash, less the gross amount of any dilutive effects in respect of the Valora
Shares prior to the Settlement (as further described in the Offer Prospectus).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Terms not defined herein have the meaning assigned
to such terms in the Offer Prospectus. <B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>End Result</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the end of the Additional Acceptance Period
on September&nbsp;29, 2022, 4:00 p.m.&nbsp;Swiss time, the participation of the Offeror and the persons acting in concert with the Offeror
is 4,252,410 Valora Shares in aggregate, corresponding to 96.87% of the issued share capital and voting rights of Valora <I>(participation
rate). </I>4,234,923 Valora Shares were tendered into the Offer until the end of the Additional Acceptance Period, corresponding to 96.62%
of all Valora Shares to which the Offer extends as of the end of the Additional Acceptance Period <I>(success rate).</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following overview summarizes the end result:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><B>Number of Val<FONT STYLE="font-size: 10pt">ora<BR>
    Shares</FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><B>Share capital /<BR> <FONT STYLE="font-size: 10pt">Voting
    rights<BR>
    (participation<BR> rate)</FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><B>Success rate</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 59%; text-align: left">Valora Shares tendered into the Offer</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">4,234,923</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">96.47</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">96.62</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Valora Shares held by the Offeror and the persons acting
    in concert with the Offeror at the end of the Additional Acceptance Period*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17,487</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">End result</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,252,410</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">96.87</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Consisting
                                            of 7,089 treasury shares held by Valora and its Subsidiaries and 10,398 Valora Shares purchased
                                            by the Offeror outside the Offer during the Additional Acceptance Period. The persons acting
                                            in concert with the Offeror (other than Valora and its Subsidiaries) held no Valora Shares
                                            as at the end of the Additional Acceptance Period.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Satisfaction of Offer Conditions and Settlement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at the end of the Additional Acceptance Period,
the Offer Condition pursuant to Section&nbsp;B.7(a)&nbsp;<I>(Minimum Acceptance Rate) </I>and Section&nbsp;B.7(d)&nbsp;<I>(No Material
Adverse Effect) </I>of the Offer Prospectus were satisfied. The Offer Condition pursuant to Section&nbsp;B.7(b)&nbsp;<I>(Merger Clearances
and Other Approvals) </I>has also been satisfied since the end of the Additional Acceptance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Offer Conditions (c), (e), (f), (g), and (h)&nbsp;pursuant
to Section&nbsp;B.7 <I>(Offer Conditions, Waiver of Offer Conditions and Period for Which the Offer Conditions are in Force and Effect)
</I>of the Offer Prospectus remain in effect, as set forth in sub-section <I>&ldquo;Period for Which the Offer Conditions are in Force and
in Effect&rdquo; </I>of Section&nbsp;B.7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the satisfaction or waiver of the
remaining Offer Conditions, the Settlement is expected to occur on October&nbsp;7, 2022. The Offeror reserves the possibility to postpone
the Settlement or to declare the Offer unsuccessful, all in accordance with sub-section <I>&ldquo;Period for Which the Offer Conditions are
in Force and in Effect&rdquo; </I>of Section&nbsp;B.7 of the Offer Prospectus, if not all remaining Offer Conditions have been satisfied
or waived by October&nbsp;7, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Extraordinary Shareholders&rsquo; Meeting of Valora</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The extraordinary shareholders&rsquo; meeting called
by Valora in connection with the Offering to satisfy the Offer Condition pursuant to Section&nbsp;B.7(f)&nbsp;<I>(Resignation and Appointment
of Members of the Board of Directors of the Company) </I>is expected to be held on October&nbsp;14, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Squeeze-out and Delisting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As described in the Offer Prospectus, the Offeror
intends to have Valora submit an application to SIX Exchange Regulation for the delisting of the Valora Shares and for an exemption from
certain disclosure and publicity obligations until the date of delisting of the Valora Shares, and to request the cancellation of the
remaining publicly held Valora Shares in accordance with article 137 FMIA or to merge Valora with the Offeror or another Swiss company
directly or indirectly controlled by FEMSA, whereby the remaining public holders of Valora Shares would be compensated (in cash or otherwise)
and not receive any shares in the surviving company if the statutory requirements are met (see Section&nbsp;E.3 <I>(Intentions of the
Offeror with Respect to Valora) </I>and Section&nbsp;L.6 <I>(Squeeze-out and Delisting) </I>of the Offer Prospectus).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Offer Restrictions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offer is subject to the offer restrictions
as set forth in the Offer Prospectus. The Offer Prospectus may be obtained free of charge in German, French and English from Credit Suisse
AG, Zurich (e-mail: equity.prospectus@credit-suisse.com). The Offer Prospectus and other information concerning the Offer are also available
at https://femsa.gcs-web.com/valora-transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">Valora Holding Ltd.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">Securities No.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%">ISIN</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">Ticker symbol</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registered
    shares <B>not tendered </B>(first trading line)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">208 897</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">CH000 208 897 6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">VALN</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registered
    shares <B>tendered </B>(second trading line)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">120 261 659</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">CH120 261 659 0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">VALNE</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October&nbsp;5, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Financial Advisor and Offer Manager</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2227478d1_ex99-2img04.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>tm2227478d1_ex99-1img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2227478d1_ex99-1img01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  R U(# 2(  A$! Q$!_\0
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M/_ B*FM+VVOX%FM+B&>-AD/#('4_B* L[7L6J**,\XH **** "BBB@ HHHH
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MW^73[O\ THZ^]\*3'P''H6F7(MYXHD1959D5R#\^['.&^;/UK!LOA!IT</\
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ME3[:=CK3@#GI7@^J.NE_%&:?5%+0QWXE?//R$AE;'< $'\,5[N>PW#Z&N?\
M$?@_2_$T:F]1TN(QM2XAP'4>G(((Z]0>IQC-.2OL8Y?BH8><O:?#)6=MT6KC
MQ-HEM9?:GU6S\G&599E;=] #DGV%>0>%KZ"X^*<-Z&"0W%[<21EN#\ZR;0?<
M[@/J:["V^$.E),KS7]W,@.=@"IGV)QG\L5H7_P ,]#N]1M+F%7M(H0HD@A^[
M*%Z<]0>F3U/UYJ6I,ZZ%;!8=3A&3?,FKVV^1W-%%%6>,%%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
;%%%% !1110 4444 %%%% !1110 4444 ?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>tm2227478d1_ex99-2img04.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2227478d1_ex99-2img04.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  Q 4\# 2(  A$! Q$!_\0
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M_P!(0ZYIK6&HQG9*FX,CG^\I!(P?3/%9UZMUHTU^*-*%*SU5G^#-FBBBN([
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
EBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** /_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
