10:13 AM EDT, 10/10/2024 (MT Newswires) -- Fomento Economico Mexicano (FMX), or FEMSA, said Thursday it has entered into a definitive agreement with Grupo Traxion to sell some of Solistica logistics operations for about 4.06 billion Mexican pesos ($207.3 million) on a cash-free, debt-free basis.

The transaction covers the company's transportation management operations in Mexico and its contract logistics operations in Mexico, Colombia and Brazil. FEMSA's less-than-truckload operations in Brazil are not part of the deal, the company said.

The deal is expected to close in the following months, subject to regulatory approvals and other closing conditions, the company added.

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