FEMSA-Heineken deal cleared
The Mexican authorities have cleared the sale of FEMSA’s beer business, the country’s second biggest brewer, to Dutch multinational Heineken.
FEMSA said in a statement that Mexico’s anti-trust regulator has “approved without reservation” the outright sale of its beer business to Heineken.
The deal, worth $5.3 billion, will give FEMSA, Mexico’s largest Coca-Cola bottler, a 20% share in Heineken when complete.
Earlier this month Heineken began buying back its own shares for transferral to FEMSA. By 2015, 29 million allotted shares will have been transferred to the firm.
The Mexican drinks giant said relevant approvals have been granted in the US. The transaction is expected to be completed by the end of the second quarter, following further regulatory and shareholder approvals.
By Rob Brown
Based on the following sources:
http://www.brewersguardian.com/
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