Macroeconomic and political risks continue to rise, although Fomento Económico Mexicano, S.A.B. de C.V (FEMSA)?s exposure to the U.S. is relatively mild. The company?s plan to expand its retail operations in the country may face some headwinds, which could slow capital deployment. In the past few months, the company announced a definitive agreement to acquire Delek US Holdings, Inc. (Delek)?s retail operations, consisting of 249 convenience stores located mainly in Texas for $385 million. It also announced divestitures of noncore operations, related to refrigeration and foodservice equipment operations, and logistics operations, collecting about Mexican peso (MXN) 12 billion (about $590 million). Overall, these corporate actions remain in line with the company?s plan to monetize noncore assets, strengthen its retail operations,
