Femsa would sell the shares he owns Heineken Group worth 3.5 billion eurosaccording to information from the beverage manufacturing company.
Through a statement released by the Mexican Stock Exchange (BMV), Femsa today announced its offer through its subsidiary CB Equity LLP. The figure would correspond to 6 percent of the participation in Grupo Heineken. The figure corresponds to three billion euros from Heineken Holding and 500 million euros from Heineken NV
We recommend: Inflation and interest rate hikes will curb consumption in 2023
“The company also announced today an unsecured notes offer for shares of Heineken Holding NV for a aggregate amount of approximately €500 million”, indicated Femsa in its document.
“The Offer was approved by Femsa’s Board of Directors, and is made and announced in accordance with applicable law,” the company added.
The share offering will be made through a sale of shares to qualified investors, who will have the opportunity to acquire shares of both Heineken NV and Heineken Holding NV, and “Femsa will adjust the ratio” between the shares of both companies based on demand. .
“Heineken NV has committed to repurchase at least 707 million euros of Heineken NV shares, and at least 296 million euros of Heineken Holding NV shares, together representing an amount of up to 1 billion euros,” Femsa said.
change of strategy
Femsa announced last Wednesday that it will sell its shares of Heineken as part of a un “strategic plan” to expand your businessor, the company itself reported in a statement.
According to the company, After the sale, he expects to keep “only” the businesses that are key to Femsa.
“After thoroughly analyzing our business platforms, including their strategic opportunities, long-term plans, and the best strategy to continue driving growth and future capital allocation, Femsa’s Board of Directors has approved a series of actions Once completed, these actions will significantly simplify Femsa’s corporate structure,” commented José Antonio Fernández Carbajal, Executive Chairman of Femsa’s Board of Directors, in a statement.
In addition to this measure, the company indicated that it will explore strategic alternatives for its logistics company “Envoy Solutions”, as well as for its other minority investment and other non-strategic and non-essential business units. Femsa also said it will seek to reduce its existing debt.
According to preliminary financial figures for the fourth quarter of 2022, Femsa’s consolidated total revenues increased 23 percent, driven by growth across all of Femsa’s business units.
➡️ Subscribe to our Newsletter and receive the most relevant news in your email
During the same period, gross profit rose 21 percent and operating profit grew 12 percent, the company reported.
