Bill Gates with $105 Billion Fortune Buys 3.76% of Dutch Beer Giant Heineken from Mexico FEMSA for $939 Million, FEMSA is World Largest Independent Coca-Cola Bottling Group
25th February 2023 | Hong Kong
Bill Gates with $105 billion fortune has bought 3.76% of Dutch beer giant Heineken Holding from Mexico’s FEMSA for $939 million (17/2/23 Filing, EUR 883 million). FEMSA (Fomento Económico Mexicano) is the world’s largest independent Coca-Cola bottling group. Heineken is listed on Euronext Amsterdam (AEX) and has a market capitalization of around $55 billion (24/2/23, EUR 58 billion). Bill Gates, founder of Microsoft is one of the world’s richest man with $105 billion fortune. His family office is Cascade Asset Management Company. On 17th February 20223, Heineken also announced to have acquired Heineken shares totalling €1 billion from FEMSA. See statement below.
“ Bill Gates with $105 Billion Fortune Buys 3.76% of Dutch Beer Giant Heineken from Mexico FEMSA for $939 Million, FEMSA is World Largest Independent Coca-Cola Bottling Group “
Heineken N.V. purchases €1 billion in shares from FEMSA
17th Feb 2023 – HEINEKEN has today purchased 7,782,100 shares in HEINEKEN at a price of €91 per share (totaling EUR 708 million) and 3,891,050 shares in Heineken Holding N.V. at a price of €75 per share (totaling EUR 292 million) for an aggregate amount of €1 billion.
The purchase is part of the accelerated bookbuild offering by FEMSA of €1.9 billion in shares in HEINEKEN and €1.3 billion in shares in Heineken Holding N.V. at the same prices per share, which was successfully completed today. FEMSA also placed exchangeable bonds for an amount of €500 million exchangeable into Heineken Holding N.V. shares. Together, the equity offering and the issued exchangeable bonds (in which HEINEKEN did not participate) represent over half of FEMSA’s economic interest in HEINEKEN. As of the settlement date, the remaining shares in HEINEKEN and Heineken Holding N.V. held by FEMSA will be subject to a lock-up period of 90 days.
HEINEKEN’s share purchase will be earnings-per-share accretive to the effect of c.2% excluding financing expenses or c.1% assuming the purchase is financed fully at the average interest rate expected for 2023 (3.1%). The impact on its net debt / EBITDA (beia) will be approximately 0.15x. For the foreseeble future, HEINEKEN intends to keep the purchased HEINEKEN shares in treasury and the purchased Heineken Holding N.V. shares on its balance sheet. For further details on the accounting and dividend treatment, please refer to our press release of 19:26 CET on 16 February, 2023.
CEO statement
Dolf van den Brink, CEO and Chairman of the Executive Board, commented: “Participation in this equity offering through the purchase of HEINEKEN and Heineken Holding N.V. shares represents a unique investment opportunity and reflects our confidence in the EverGreen strategy, which continues to gain momentum. Our strong balance sheet allows us to take advantage of this opportunity. This does not change our capital allocation principles, which prioritise investment in the organic growth and expansion of our business, whilst abiding by our long-term target net debt/EBITDA (beia) ratio of below 2.5x.”
Credit Suisse International and Citigroup Global Markets Europe AG are acting as financial advisors to Heineken N.V. De Brauw Blackstone Westbroek is acting as our legal advisor.
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