LatinNews Daily - 17 February 2023

In brief: Heineken repurchases shares from Mexico’s Femsa

*Dutch-owned brewery Heineken has announced it is repurchasing €1bn (US$1.06bn) worth of its shares in Mexico’s Coca-Cola bottling company Femsa. The buyback consists of €708m worth of shares in Heineken, at €91 per share, and €292m worth of shares in Heineken Holding N.V., at €75 per share, the brewery said in a statement. This comes the day after Femsa announced it was selling its stake in Heineken over the next two to three years following a review of its business platform. Heineken said the offering by Femsa consisted of €1.9bn in shares in Heineken and €1.3bn in shares in Heineken Holding N.V. It also stated that Femsa placed exchangeable bonds for an amount of €500m exchangeable into Heineken Holding N.V. shares. Together, the equity offering and the issued exchangeable bonds represent over half of Femsa’s economic interest in Heineken, said the brewery. Femsa’s overall economic interest in the Heineken Group was 14.76% and will drop to 8.13% according to company statement cited by Bloomberg.

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