NETHERLANDS: Heineken ups share buyback value for FEMSA
Heineken's share buyback will see the brewer hand FEMSA a 20% stake
Heineken has doubled the value of the latest phase in its share buyback programme.
The Netherlands-based brewer, which began the programme almost a year ago, is looking to buy shares back in order to hand them to Fómento Económico Mexicano (FEMSA). Heineken bought FEMSA Cerveza from Mexico's FEMSA at the beginning of 2010.
The third phase of the buy-back, covering the period from 18 November last year to 16 June, has had its value doubled to EUR300m (US$)425.5m from the original EUR150m, Heineken said today (21 March).
When contacted by just-drinks, a spokesperson for Heineken said: "Our cash position and current market conditions allow us to accelerate the share repurchases related to the FEMSA beer businesses acquisition."
Heineken is looking to give FEMSA around 29m shares in total, representing about 20% of the Dutch company.
Grolsch has had a EUR32m fine for participating in a pricing cartel in the Netherlands annulled....
United Breweries is planning to build two breweries in India as it continues to prosper on the country's fledgling beer market. ...
- Is Diageo approaching its "Et tu, Brute" Moment?
- Diageo Q4 & FY - Preview
- Has Diageo added Beer to its 'Non-Core' List?
- SABMiller, Carlsberg, Heineken: Poland's beer itch
- SABMiller's Q1 Sales Performance by Region
- NPD: Tomatin Contrast, Cù Bòcan
- Diageo comm's director latest to leave
- Diageo hit by SEC investigation in US
- Global business development head to quit Diageo
- Diageo, Heineken end South Africa, Namibia JV
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global gin insights - market data, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research