Netherlands: FEMSA sells €2.5 billion stake in Heineken

Mexican beverage company FEMSA has announced the sale of a 5.24% stake in beer firm Heineken.

According to Heineken, FEMSA has divested 22,485,00 shares in Heineken NV, which represents 3.90% of the issued share capital, at a price of €84.50 ($101.28) per share, and 7,700,00 shares in Heineken Holding NV, representing 2.67% of the issued share capital, at a price of €78 ($93.49) per share.

The sale of around €2.5 billion ($2.9 billion) reduces FEMSA’s shareholding in Heineken NV from 12.53% to 8.63% and in Heineken Holding NV from 14.94% to 12.26%. FEMSA’s overall stake in Heineken has decreased from 20% to 14.76%.

FEMSA’s CEO Carlos Salazar Lomelin said: “We have long held a very positive view of Heineken as a long-term investment. The transaction priced today does not represent or reflect a change in our view or expectations”.

Following the sale, L’Arche Green NV, the company through which Heineken exercises control of Heineken Holding NV, announced that it intended to purchase the Heineken Holding NV shares sold by FEMSA for an amount of €200 million ($239 million).

Source: Heineken