Heineken Buys EUR1 Billion Worth of Shares From Femsa

By Ian Walker

Heineken NV said Friday that it has bought 1 billion euros ($1.07 billion) worth of shares from Fomento Economico Mexicano SAB de CV.

The Dutch brewer said that it has bought 7.8 million shares in the company at EUR91 each and 3.9 million shares of Heineken Holding NV at EUR75 each.

On Wednesday, Femsa said that it planned to sells its investment in the Dutch brewer as part of a focus on its retail, Coca-Cola Femsa and digital businesses.

It said it would sell its investment in Heineken subject to market conditions and that its directors will resign from the Heineken boards.

Femsa owned 8.6% of Heineken's issued share capital, according to FactSet data.

"Participation in this equity offering through the purchase of Heineken and Heineken Holding NV shares represents a unique investment opportunity and reflects our confidence in the evergreen strategy, which continues to gain momentum. Our strong balance sheet allows us to take advantage of this opportunity," CEO and Chairman of the Executive Board Dolf van den Brink said.

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(END) Dow Jones Newswires

February 17, 2023 02:38 ET (07:38 GMT)

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