Heineken to hand FEMSA  more shares

Heineken to hand FEMSA more shares

Heineken has said that it has begun the latest phase of its deal to hand shares to Fomento Económico Mexicano (FEMSA), in exchange for ownership of its FEMSA Cerveza brewer.

Heineken said today (6 September) that it will buy back up to EUR225m (US$316.6m) of its own shares before the end of October. The shares will then be handed to FEMSA.

Once the entire process is complete, FEMSA will hold a 20% stake in Heineken. In June, the Netherlands-based brewer hit the halfway stage in its programme of handing shares to the Mexican company.