Heineken N.V. purchases €333 million in shares from FEMSA
Heineken N.V. (HEINEKEN) has purchased from FEMSA approx. 2.5 million shares in HEINEKEN at a price of €92.75 per share (totalling €235 million) and approx. 1.3 million shares in Heineken Holding N.V. at a price of €77.25 per share (totalling €98 million) for an aggregate amount of €333 million.
The purchase is part of the sell-down offering by FEMSA of €2.7 billion in HEINEKEN shares and €1.0 billion in Heineken Holding N.V. shares at the same prices per share, which was successfully completed. HEINEKEN notes that upon completion of the purchase FEMSA will no longer hold any shares in HEINEKEN and Heineken Holding N.V. other than the Heineken Holding N.V. shares underlying the exchangeable bond.
HEINEKEN will fund the share purchase from existing cash resources and credit facilities. The impact on HEINEKEN’s net debt / EBITDA (beia) ratio is expected to be minimal and will be earnings-per-share accretive.
HEINEKEN intends to keep the purchased HEINEKEN shares in treasury and the purchased Heineken Holding N.V. shares on its balance sheet. For further details on the accounting and dividend treatment, please refer to our presentation following the previous purchase of FEMSA shares here.
Heineken Holding N.V.’s position as controlling shareholder in HEINEKEN will not be affected.
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