FEMSA Selling Its Minority Stake in Jetro Restaurant Depot for $1.4 Billion
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Dow Jones
By Chris Wack
Fomento Economico Mexicano, also known as FEMSA, said Wednesday that it is selling its minority investment in Jetro Restaurant Depot and related entities.
FEMSA said it will receive total cash consideration of $1.4 billion, with $467 million payable on closing in the second quarter of 2023, and the remainder payable over two years.
The divestiture comes on the heels of Heineken buying $357.5 million worth of its and Heineken Holding shares from FEMSA, first announced late Tuesday.
The Dutch brewer has bought 2.5 million shares in Heineken and 1.3 million shares in Heineken Holding.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 31, 2023 09:46 ET (13:46 GMT)
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