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MONTERREY, Mexico -- Mexico's anti-trust regulator, the Comision Federal de Competencia, approved without reservation a deal where Heineken will purchase 100 percent of FEMSA's beer operations.
The approval was announced by Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA). CSNews Online reported Jan. 11, that FEMSA, maker of Dos Equis and Tecate beer brands, will hold a 20 percent stake in Heineken Group, with 12.5 percent of Heineken NV and 14.9 percent of Heineken Holding as a result of the all-share deal that valued FEMSA at EUR5.3 billion.
"This is a compelling and significant development for Heineken which will transform our future in the Americas, offering opportunities for accelerating sales in the rapidly growing markets of Brazil and Mexico," Heineken Chief Executive Jean Francois van Boxmeer said when the deal was announced.
The deal also gained the approval from Hart-Scott-Rodino by the relevant trade authorities in the United States. The transaction is expected to be completed in the second quarter of 2010, and is still subject to customary regulatory approvals in other jurisdictions, as well as by the FEMSA and Heineken shareholders, FEMSA stated.
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Heineken to Buy Femsa Beer Operations