Mexico's Femsa closes strategic transaction with Heineken, exchanges 100% of its beer operations for a 20% economic interest in the Dutch company
April 30, 2010
– Fomento Economico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD) announced that the closing of the transaction pursuant to which FEMSA agreed to exchange 100% of its beer operations for a 20% economic interest in the Heineken Group occurred today.
Jose Antonio Fernandez, Chairman and CEO of FEMSA, said, "Today represents an important milestone for us. We are at the starting point of a new stage for FEMSA, one that fills us with optimism and enthusiasm. We stand ready and energized to continue driving along a path of long-term growth and value creation for Coca-Cola FEMSA and Oxxo, while we participate in Heineken's own promising future through our investment participation."
FEMSA is a leading consumer company in Latin America. It controls Coca-Cola FEMSA, the largest Coca-Cola bottler in the region, and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 7,400 stores. FEMSA is also a significant investor in Heineken, a leading global brewer.