Mexico's FEMSA Sells 3B Euro Worth Heineken Shares Again
Mexican bottler FEMSA sells its Heineken shares. The amount is 3.3 billion euros. This is the second time FEMSA is selling Heineken shares.
Mexican company Grupo Heineken confirmed that it has bought common shares worth 5.9%. FEMSA had declared in February that it will sell its 14% stake in the European company over three years, and around 3 billion euros worth of common shares in Heineken N.V. and Heineken Holding N.V. will be offered.
FEMSA sold some shares. Heineken and Bill Gates bought some shares. Heineken bought 1 billion euros of shares. Bill Gates bought 10.8 million shares, which is a 3.76% stake, from FEMSA.
On Tuesday, FEMSA said they would offer up to 250 million euros of bonds. These bonds can be exchanged for shares of the Dutch brewer until 2026.
The new bonds will join together with the ones from February. They will make a single series and are worth 500 million euros. The interest rate is 2.625% and they will be due in two years. FEMSA's shares went down 0.26% on the Mexican stock market. At first, they went up 0.04%. Despite this, they still did better than the main Mexican stock index. This one dropped by 1.4% on Tuesday.
In euros, $1 is equal to 0.9084.
Raul Cortes reported it. Isabel Woodford wrote it. Richard Chang edited it.
