Heineken has bought €1 billion worth of its shares from Mexican Coca-Cola bottler, Fomento Economico Mexicano SAB (FEMSA) after the latter launched a €3.7 billion stock and equity-linked sale for part of its holdings in the Dutch beer group.
FEMSA’s decision to divest its stake in Heineken after it determined a series of actions and divestitures to achieve strategic focus, included offloading its holding in Heineken.
According to José Antonio Fernández Carbajal, FEMSA’s executive chairman of the board, the decision to divest Heineken shares came after thoroughly analyzing their business platforms, including their strategic opportunities, long-range plans, and the best strategy to continue to drive growth and allocate capital in the future.
The buyback is a component of FEMSA's accelerated bookbuild offering of €1.9 billion in Heineken shares, priced at €91 per share, and €1.3 billion in Heineken Holding shares, priced at €75 each.
The Mexican bottler has announced a sale of convertible bonds worth €500 million that could be converted into shares of Heineken Holding.
The bonds were priced at an annual coupon of 2.625% and a conversion premium of 27.5 percent, with the initial exchange price set at €95.625. They would mature in three years.
The overall financial stake held by FEMSA in the Heineken Group will drop from 14.76 percent to 8.13 percent.


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