More

    Mexico’s FEMSA launches second €3 billion sale of Heineken shares

    iStock image

    Mexican bottler FEMSA on Tuesday offered €3.3 billion (£2.84bn) worth of its shares in Heineken, the second large offering in its divestment of holdings in the Dutch brewer.

    The shares are equivalent to a stake of about 5.9 per cent in Grupo Heineken, the Mexican company said in a statement.

    Heineken said it purchased €333 million in shares from FEMSA in Tuesday’s offering.

    FEMSA announced in February an offering of around €3bn worth of common shares in Heineken N.V. and Heineken Holding N.V, after saying it would sell its 14 per cent stake in the European company over the next three years.

    Filings later showed FEMSA had sold some of the shares. Heineken bought around €1bn of the shares across both of its entities, while American tycoon Bill Gates bought 10.8 million shares – or a 3.76 per cent stake – in the Dutch beverage giant from FEMSA.

    FEMSA also announced Tuesday a simultaneous offer of up to €250m of bonds exchangeable for shares of the Dutch brewer due in 2026.

    The new bonds “will be consolidated and form a single series” with the ones issued in February for around €500m at a rate of 2.625 per cent and maturing within two years, it said.

    Heineken on Tuesday added that upon completion of the purchase FEMSA will no longer hold any shares in Heineken N.V and Heineken Holding N.V. other than the Heineken Holding N.V. shares underlying the exchangeable bond.

    Heineken will fund the share purchase from existing cash resources and credit facilities.

    Latest

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in...

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Don't miss

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in...

    KP Snacks launches new Tyrrells recycled plastic pack

    KP Snacks today announces the introduction of 25 per...

    Brew Dog delivers low ABV with new Cold Beer

    This summer, BrewDog is cooling down the beer aisle...

    Mangrove portfolio dominates at World Whiskies Awards 2024

    The independent distributor Mangrove’s world whisky portfolio recently cleared...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to...

    Family-owned plant-based startup secures funding

    UK-based family-owned startup Shicken has raised £4 million in funds from Matthew Glover’s Veg Capital, which has tripled its investment in the plant-based meat...

    Co-op’s net zero targets validated global body

    Co-op has become the first UK convenience retailer to have its net zero targets validated by the globally recognised Science Based Targets initiative (SBTi). According...

    Kitwave Group acquires 130-year-old delivered wholesaler

    Kitwave Group plc, the delivered wholesale business, has acquired Total Foodservice Solutions Limited, a leading independent food wholesaler in the North of England. Established over...