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CASTLE MALTING NEWS in partnership with www.e-malt.com Greek
16 February, 2023



Brewing news Mexico & the Netherlands: Mexico's FEMSA to launch $3.5 bln share, notes offer in Heineken divestment bid

Mexican bottling and retail conglomerate FEMSA will offer a total of 3.5 billion euros ($3.7 billion) in common shares and unsecured notes in Dutch beer giant Heineken as it looks to divest from the company, FEMSA said on February 16.

Heineken, as well as an investment vehicle controlled by the Heineken family, are expected to participate in the offering, FEMSA added in a filing to Mexico's main stock exchange.

Heineken has committed to repurchasing around a billion euros worth of its shares, both Heineken and FEMSA said on February 16.

FEMSA, which saw its own share prices rise near 9% around midday on February 16, had announced plans to divest its stake in the world's second-largest brewer the day before.

It has previously reported a 14.8% combined stake in the Heineken Group, in which the Heineken family holds just over 50%. The offer announced on February 16 intends to sell off around 6% of FEMSA's stake in the brewing group.

Analysts at Actinver Research estimated, based on the closing prices on February 15, that the total divestment - which aims to help cut debt and fuel growth - would fetch FEMSA some $7.7 billion, roughly a quarter of its market value.

The final prices in the share and notes offering will be determined and announced on February 17, FEMSA said. The firm will also hold a call on the same day to give more detail into the divestment.





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