MEXICO: Bill Gates buys stake in FEMSA - report

By | 21 December 2007

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.

Sectors: Beer & cider, Soft drinks, Water

Companies: FEMSA

View next/previous articles

Currently reading -

MEXICO: Bill Gates buys stake in FEMSA - report

There are currently no comments on this article

Be the first to comment on this article

Related articles

VENEZUELA: Govt offers to mediate Coca-Cola Femsa dispute

The Ministry of Labor and Social Affairs offered to mediate a dispute between Coca-Cola Femsa and former drivers who have halted distribution.

BRAZIL: Ambev boosts lead market position in beer

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.

MEXICO: Strong quarter offsets commodity costs at FEMSA

Fomento Economico Mexicano (FEMSA) has posted a lift in both sales and profits for its first quarter.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page