Heineken Seals €1 Billion Share Buyback as Femsa Exit Begins
Beer cans at the Heineken brewery in Zoeterwoude, Netherlands.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Heineken purchased €1 billion ($1 billion) worth of its shares from Fomento Economico Mexicano SAB, after the Mexican Coca-Cola bottler and convenience store operator launched a €3.7 billion stock and equity-linked sale for part of its holdings in the Dutch group.
The world’s second-largest brewer said its strong balance sheet allowed it to carry out the buy back in a statement Friday. The move does not change Heineken’s capital allocation principles, which prioritize investment in the organic growth and expansion of the business, said Chief Executive Officer Dolf van den Brink.