NETHERLANDS: Heineken hits halfway in FEMSA Cerveza share deal
Heineken halfway in FEMSA Cerveza share handover
Heineken has delivered 13.1m of its own shares to FEMSA, with a further 1.8m set to be handed over by 1 July, the brewer said today (20 June). By the end of the process FEMSA will hold a 20% stake in Heineken, in exchange for allowing its former brewing arm to be absorbed into the Heineken group.
The Netherlands-based brewer said that it has begun its next phase of share buybacks as part of the deal. It aims to buy EUR300m (US$427m) of shares by the end of 5 September.
In the second part of just-drinks' review of 2011, Michelle Russell looks at how the soft drinks category has fared in the last 12 months....
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