MEXICO: Bill Gates buys stake in FEMSA - report
Microsoft Corporation boss Bill Gates has taken a stake in Fomento Economico Mexicano (FEMSA), according to a US Securities and Exchange Commission filing.
Gates' Cascade Investment LLC fund now owns a stake of the Mexican brewer equivalent to 10.81m of FEMSA's New York-traded American depositary shares, worth a reported US$392m, the SEC filing said yesterday (20 December). The stake equates to around 3% of FEMSA.
Company president Jose Antonio Fernandez said: "This type of decision on the part of large investment funds is a show of recognition and confidence in our company's performance."
The filing added that "each ADS represents 10 BD units, each consisting of one Series B share, two Series D-B shares and two Series D-L shares and showed that Gates owns a 1.2% stake in FEMSA's Series B shares, a 5% stake in Series D-B shares, and a 5% stake in Series D-L shares".
FEMSA, which produces the lagers Sol, Dos Equis, Bohemia, Tecate and Carta Blanca, has three divisions including a soft drinks unit, Coca-Cola FEMSA, a beer subsidiary, and a Latin American store chain called Oxxo.
The Ministry of Labor and Social Affairs offered to mediate a dispute between Coca-Cola Femsa and former drivers who have halted distribution....
Companhia de Bebidas das Américas (AmBev), Brazil's largest brewer, has boosted its leading position in the domestic beer market, according to data from Nielsen....
Fomento Economico Mexicano (FEMSA) has posted a lift in both sales and profits for its first quarter....
Coca-Cola FEMSA has posted a lift in sales and net profit for the first three months of 2008....
Shareholders at Fomento Economico Mexicano (FEMSA) have approved the Mexican company's annual dividend payment....
Dos Equis is launching an irreverent marketing campaign in the US, to find a new assistant for the Most Interesting Man (MIM) in the World....
Coca-Cola Femsa has received shareholder approval for its full-year dividend payment....
Fomento Economico Mexicano (Femsa) has confirmed details of its latest dividend payment....
- Interview Berry Bros & Rudd CEO Dan Jago - Part I
- The threat of excess choice in beer is over-stated
- Key trends for the spirits sector in 2017 - Focus
- Signs of life in Japan's beer market - Comment
- Interview Berry Bros & Rudd CEO Dan Jago - Part II
- Pernod Ricard's Method and Madness Irish whiskey
- Pernod unveils new St Patrick's Day Jameson bottle
- Premium to counter mainstream in gin - research
- Diageo faces US$68m payout after SAP court loss
- Wm Grant names Victor Jerez business director
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends