Shares of Heineken NV dropped as much as 3% Wednesday morning, while Heineken Holding NV fell 0.9%. Heineken NV said Wednesday it bought €333 million worth of the stock. After the share sale, Femsa, whose full name is Fomento Economico Mexicano SAB, no longer holds any stock in Heineken NV or Heineken Holding NV except for shares underlying its exchangeable bonds. Read more: Femsa Eyes US Retail Chain in Wake of $4 Billion Heineken SaleThe Mexican company picked up a 20% stake in Heineken in 2010 but trimmed it to 14.8% in 2017. (Updates with Femsa strategy in sixth paragraph)©2023 Bloomberg L.P.

Source: The Star May 30, 2023 17:25 UTC