Heineken to Buy Back EUR330 Million of its Shares in Femsa Equity Offer
By Michael Susin
Heineken N.V. said Tuesday that it intends to buy its own shares from the Fomento Economico Mexicano offering of both Heineken and Heineken Holding N.V. shares. The Dutch brewer said that of Femsa's total offering of around 3.3 billion euros ($3.53 billion) it will purchase 10%, funded from existing cash resources and committed credit facilities.
Heineken said that Femsa will also offer senior unsecured exchangeable bonds in the aggregate principal amount of up to EUR250 million, which are exchangeable into shares of Heineken Holding N.V.
The impact is expected to be minimal and will be earnings-per-share accretive, it added.
"Heineken and Heineken Holding N.V. will not be issuing or selling shares as part of the Femsa equity offering and will not receive any proceeds from it," it added.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 30, 2023 13:24 ET (17:24 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
Is the Era of Volatility-Suppressing Policies Possibly Over?
-
5 Undervalued Stocks That Crushed Earnings for Q1 2024
-
What Does Nvidia’s Stock Split Mean for Investors?
-
After Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Baidu Stock a Buy, a Sell, or Fairly Valued?
-
Why Stocks Are Hitting Record Highs—and What Could Send Them Back to Earth
-
2 Wide-Moat Stocks to Consider
-
Live Nation: Breakup Sought by Department of Justice Probably Wouldn’t Affect Fair Value Much
-
After Earnings, Is Applied Materials Stock a Buy, Sell, or Fairly Valued?
-
The Best Energy Stocks to Buy
-
Snowflake Earnings: Mixed News, But Signs of Stability
-
Nvidia Earnings: AI Demand Smashes Expectations Again
-
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
-
Target Earnings: Margins Hold Up, but Top Line Constrained by Weak Discretionary Spending