M&As this week: Fomento Económico Mexicano, Nestle
Fomento Económico Mexicano (FEMSA) has sold part of its stakes in Heineken and Heineken Holding to support its growth initiatives in Mexico.
The company has sold a 3.9% stake in Heineken and a 2.67% stake in Heineken Holding for a combined value of €2.5bn ($3bn).
Following the transaction, FEMSA will own an 8.63% stake in Heineken and a 12.26% in Heineken Holding.
Based in Mexico, FEMSA is a bottling company, while Heineken and Heineken Holding are brewing companies.
Nestle has reached an agreement to acquire a significant stake in Blue Bottle Coffee.
Headquartered in Switzerland, Nestle is a food and beverage company, while Blue Bottle Coffee is based in the US.
Blue Bottle Coffee will retain a 32% stake in the business and will continue to operate as a standalone entity following the transaction.
Financial details of the acquisition have not been disclosed.