Mexican Fomento Economico Mexicano has entered into a definitive agreement with Delek U.S. Holdings to acquire their retail business for a cash consideration of $385 million.
Femsa, as the company is known, said its subsidiary will buy 100% of the equity in Delek's subsidiaries that operate in the retail fuel business.
Delek US Holdings is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, renewable fuels and convenience store retailing operating mostly in the southwestern U.S.
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