NETHERLANDS: Heineken shareholders back FEMSA deal

By | 22 April 2010

Heineken moves in on FEMSA Cerveza

Heineken moves in on FEMSA Cerveza

Heineken shareholders have approved the brewer's deal to acquire FEMSA Cerveza, Mexico's second largest brewer.

More than 99% of Heineken shareholders today (22 April) gave their blessing to the deal at the brewer's annual general meeting.

The all-share agreement, announced in January, will see Heineken take full control of FEMSA Cerveza from its parent company FEMSA, in return for handing the Mexican group a 20% stake in its global business.

The deal, which will be paid for via a share issue to FEMSA, includes all of FEMSA's Mexican beer business, its US export business and 83% of the Brazilian beer business that Heineken does not already own.

"Through this deal, we become a much stronger, more competitive player in Latin America, one of the world's most profitable and fastest growing beer markets," said Heineken's CEO and chairman, Jean-François van Boxmeer.

Sectors: Beer & cider, Mergers & acquisitions

Companies: Heineken, FEMSA

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