Heineken investors give nod to FEMSA deal
AMSTERDAM |
AMSTERDAM (Reuters) - Dutch brewer Heineken NV (HEIN.AS) said on Thursday it would close its intended acquisition of FEMSA Cerveza (FMSAUBD.MX) on April 30 after shareholders gave their go-ahead for the deal.
The acquisition of FEMSA is Heineken's largest ever acquisition but the vote in favor of the deal was also considered a formality, given that the Heineken family holding still holds a majority stake in the company. "This deal is a fantastic challenge and represents a great acceleration in our world position. Brazil and Mexico are fantastic growth platforms for Heineken," Chief Executive Jean-Francois van Boxmeer said at the company's annual meeting.
The need for the FEMSA deal was underlined on Wednesday when Heineken beer sales fell a greater than expected 3.5 percent in the first quarter as western consumers drank less.
Heineken is targeting through the FEMSA deal 150 million euros in annual synergies by 2013.
(Reporting by Aaron Gray-Block; Editing by David Holmes)
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