Envoy Solutions: Mexico's Femsa Sells $1.7 Billion Stake in Envoy in Latest Divestment

(Bloomberg) -- Mexico's Fomento Economico Mexicano SAB sold a $1.7 billion stake in Envoy Solutions to BradyIFS as part of its plan to divest from non-core units. Most Read from Bloomberg Putin Agrees to Visit China in First Trip Since Arrest Warrant Citadel Vets 69,000 Intern Applicants to Find Next Math Geniuses What to Do With a 45-Story Skyscraper and No Tenants Crypto Scores Landmark US Legal Win With Grayscale ETF Ruling Stocks Up Most Since June as Fed Bets Sink Yields: Markets Wrap Femsa, as the company is known, will retain a 37% stake in Envoy, the company said in a statement. The two companies will "create a new platform within the facility care, foodservice disposables and packaging distribution industries in the United States," the statement said. --With assistance from Carolina Gonzalez. Most Read from Bloomberg Businessweek Nigeria's Train to Nowhere Shows How Not to Build Public Transit The Next Wave of Scams Will Be Deepfake Video Calls From Your Boss Luxury Villas Are Going Up in a Palestinian Boomtown Built on Shaky Peace Stock Pickers Never Had a Chance Against Hard Math of the Market Lyme Disease Has Exploded, and a New Vaccine Is (Almost) Here ©2023 Bloomberg L.P.