Benzinga | Jan 5, 2021 06:48AM EST

Betterware de Mexico Says On Dec. 16 Merger Was Agreed To Between Forteza And Betterware

GUADALAJARA, Mexico, Jan. 5, 2021 /PRNewswire/ -- Betterware de M?xico S.A.B. de C.V. ("Betterware") (NASDAQ:BWMX), the leading direct-to-consumer company in Mexico that focuses on the home organization and solutions segment with a two-tier distribution model, today announced that on December 16, 2020, Promotora Forteza, S.A. de C.V. ("Forteza"), an investment vehicle with no other assets, liabilities or investments, merged with the Company. This merger was agreed to between Forteza and Betterware to comply with the Mexican Banking and Securities Commission's (CNBV) request. As a result of the merger, the 12,033,786 shares that Forteza was titleholder to on December 16, 2020 were distributed to the individual investors of Forteza, who now hold an equal number of Betterware shares. This merger did not affect Betterware's operations or value.

Forteza, which was comprised of 17 individual investors, held shares in Betterware common stock since 2018. These shareholders of Forteza received the same number of shares (12,033,786) representing Betterware's capital stock that Forteza was titleholder on December 16th, 2020. Currently, the individual investors can directly participate in Betterware?s capital stock.

Luis Campos, Betterware Chairman stated: "We are pleased to welcome the individual investors in Forteza as shareholders in Betterware. These former shareholders of Forteza are long term investors who strongly believe in Betterware?s growth prospect, dividend income and business strategy."