HEINEKEN: change in FEMSA shareholding in Heineken N.V. and Heineken Holding N.V.

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Overig advies 19/09/2017 10:07
Amsterdam, 19 September 2017 - HEINEKEN notes the announcement today by FEMSA on the completion of the sale of 5.24% of the combined interest in HEINEKEN comprising a combination of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. This sale will generate combined gross proceeds of approximately €2.5 billion.

FEMSA has sold 22,485,000 shares in Heineken N.V. representing 3.90% of the issued share capital at a price of €84.50 per share, and 7,700,000 shares in Heineken Holding N.V. representing 2.67% of the issued share capital at a price of €78.00 per share.

Following the sale, FEMSA's shareholding in Heineken N.V. has reduced from 12.53% to 8.63% and in Heineken Holding N.V. from 14.94% to 12.26%, providing for an overall decrease of FEMSA's economic interest in HEINEKEN from 20.00% to 14.76%.

FEMSA will retain its existing governance rights per the terms of the Corporate Governance Agreement dated 30 April 2010, including one seat on the Board of Directors of Heineken Holding N.V. and two seats on the Supervisory Board of Heineken N.V.

In FEMSA's filing with the Mexican stock exchange Carlos Salazar Lomelín, FEMSA's Chief Executive Officer, commented:

"We have long held a very positive view of HEINEKEN as a long-term investment. The transaction priced today does not represent or reflect a change in our view or expectations. However, the Equity Offering will allow us to partially monetize our position while retaining our existing governance rights in HEINEKEN, taking advantage of the favourable tax treatment afforded by the Repatriation Decree issued by the Mexican Government. In accordance with the Decree, we plan to invest the proceeds of the Equity Offering to support our growth initiatives in Mexico in the coming years."

L'Arche Green N.V., the company through which the Heineken Family exercises control of Heineken Holding N.V., announced on 18 September 2017, following the announcement of the share sale, its intention to buy Heineken Holding N.V. shares from FEMSA for an amount of €200 million.

ENDS




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