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.