Heineken N.V. to participate in equity offering by FEMSA
February 16 2023 - 1:23PM
Heineken N.V. to participate in equity offering by FEMSA
NOT FOR PUBLICATION, RELEASE OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
ORINTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT
OR BENEFIT OF, U.S. PERSONS (AS DEFINED
INREGULATION S UNDER THE U.S. SECURITIES ACT OF
1933) OR IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE
LAW.
Heineken N.V. (HEINEKEN) has noted the
announcement today by Fomento Económico Mexicano, S.A.B. de C.V.
(FEMSA) that it has launched an offering by its wholly-owned
subsidiary CB Equity LLP of existing issued ordinary shares of both
HEINEKEN and Heineken Holding N.V. in the total amount of
approximately EUR 3 billion (approximately 6% of the combined
interest in HEINEKEN and Heineken Holding N.V.) (Equity Offering).
FEMSA also announced today an offering of senior unsecured
exchangeable bonds in the aggregate principal amount of
approximately EUR 500 million (Bonds), exchangeable into shares of
Heineken Holding N.V.
Together, the Equity Offering and the Bonds
represent almost half of FEMSA’s economic interest in HEINEKEN.
HEINEKEN has committed to purchase at least EUR
707 million in shares of HEINEKEN and at least EUR 292 million in
shares of Heineken Holding N.V., representing altogether an amount
of up to EUR 1.0 billion.
HEINEKEN will fund the share purchase from
existing cash resources and committed credit facilities. The impact
on its net debt / EBITDA (beia) will be approximately 0.15x.
HEINEKEN’s participation in the Equity Offering will be
earnings-per-share accretive.
Heineken Holding N.V.’s position as controlling
shareholder in HEINEKEN will not be affected by the Equity Offering
and/or the Bonds.
For the foreseeable future, HEINEKEN intends to
keep the purchased HEINEKEN shares in treasury and the purchased
Heineken Holding N.V. shares on its balance sheet. HEINEKEN will,
concurrently with the settlement of the Equity Offering, enter into
a cross-holding agreement with Heineken Holding N.V., which,
amongst other conditions, will include a waiver by HEINEKEN of
payment of any dividends on the Heineken Holding N.V. shares held
by HEINEKEN as well as by Heineken Holding N.V. on an equivalent
number of HEINEKEN shares held by Heineken Holding N.V. The
HEINEKEN shares for which dividend is waived by Heineken Holding
N.V. will no longer be part of the calculated number of outstanding
ordinary shares of HEINEKEN (for purposes of per-share metrics such
as earnings per share and dividend per share). As a consequence,
the number of ordinary shares will be reduced by the total number
of Heineken N.V. and Heineken Holding N.V. shares purchased.
Heineken N.V. and Heineken Holding N.V. will not
be issuing or selling shares as part of the Equity Offering and
will not receive any proceeds from the Equity Offering.
-END-
Press enquiries Sarah Backhouse / Michael
FuchsE-mail: pressoffice@heineken.com Tel:
+31-20-5239-355
Investor and analyst enquiriesFederico Castillo
Martinez / Mark Matthews / Chris SteynE-mail:
investors@heineken.comTel: +31-20-5239-590
About HEINEKEN
HEINEKEN is the world's most international brewer. It is the
leading developer and marketer of premium and non-alcoholic beer
and cider brands. Led by the Heineken® brand, the Group has a
portfolio of more than 300 international, regional, local and
specialty beers and ciders. With HEINEKEN’s over 85,000 employees,
we brew the joy of true togetherness to inspire a better world. Our
dream is to shape the future of beer and beyond to win the hearts
of consumers. We are committed to innovation, long-term brand
investment, disciplined sales execution and focused cost
management. Through "Brew a Better World", sustainability is
embedded in the business. HEINEKEN has a well-balanced geographic
footprint with leadership positions in both developed and
developing markets. We operate breweries, malteries, cider plants
and other production facilities in more than 70 countries. Most
recent information is available on our Company's website and follow
us on LinkedIn, Twitter and Instagram.
Market Abuse RegulationThis press release may
contain price-sensitive information within the meaning of Article
7(1) of the EU Market Abuse Regulation.
- Press release Heineken NV participation in offering FEMSA
(16_02_2023)
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