MEXICO CITY, Feb 16 (Reuters) – Mexican bottling and retail conglomerate FEMSA will offer a total of 3.5 billion euros ($3.7 billion) in common shares and unsecured notes in Dutch beer giant Heineken as it looks to divest from the company, FEMSA said Thursday.
Heineken, as well as an investment vehicle controlled by the Heineken family, are expected to participate in the offering, FEMSA added in a filing to Mexico’s main stock exchange.
Heineken has committed to repurchasing around a billion euros worth of its shares, both Heineken and FEMSA said Thursday.
FEMSA, which saw its own share prices rise near 9% around midday Thursday, had announced plans to divest its stake in the world’s second-largest brewer the day before.
It has previously reported a 14.8% combined stake in the Heineken Group, in which the Heineken family holds just over 50%. The offer announced Thursday intends to sell off around 6% of FEMSA’s stake in the brewing group.
Source: www.reuters.com
