BeFra Clarifies Its Agreement To Sell The Jafra México Office Building In Mexico City, Following A News Article Which Appeared In Bloomberg en Línea On April 25, 2024 Entitled "Betterware Cancels Purchase Of Jafra Headquarters In Mexico City."

BETTERWARE DE MEXICO SA DE CV +1.35%

BETTERWARE DE MEXICO SA DE CV

BWMX

17.30

+1.35%

 Betterware de México, S.A.P.I. de C.V. (NASDAQ:BWMX) ("BeFra" or the "Company"), BeFra Group clarifies the Company's agreement to sell the Jafra México office building in Mexico City, following a news article which appeared in Bloomberg en Línea on April 25, 2024 entitled "Betterware cancels purchase of Jafra headquarters in Mexico City."

Per the Company's first quarter 2024 earnings press release, also dated April 25, 2024, Jafra México reached an agreement to sell the property, the net proceeds of which will be received over the next three years and used to reduce the Group's outstanding debt. It is relevant to note that the office building being sold no longer meets the Company's needs.

As was also communicated within the Company's earnings press release, the agreed upon amount for the property sale was Ps. 385.7 million. Jafra México will vacate current premises in June 2024 and relocate its headquarters to a leased office building. This new location features a flexible design, integrated technology, is energy efficient, and focuses on employee well-being; all of which are essential for maintaining competitiveness and attracting to top talent. The transaction is consistent with the selling of non-strategic assets as part of the Jafra México acquisition strategy.

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