Femsa, the largest convenience retailer in Latin America, approved the sale of $3.5B of its shares in the Heineken Group.

 

Femsa, the largest convenience retailer in Latin America, approved the sale of $3.5B of its shares in the Heineken Group.  This divestment enabled Heineken to boost its earnings per share by buying the $355M value of the claims. The only shares of Heineken NV or Heineken Holding NV that Femsa still owns are those that support its exchangeable bonds. The business is considering enlarging its locations close to the U.S.-Mexico border and even acquiring a local chain in the U.S. Before the most recent share sale, Femsa's initial 20% holding in Heineken was reduced from 2010 to 2017 from 20% to 14.8%. To increase its position in Europe, Femsa agreed to purchase Switzerland's Valora in 2022 for up to $1.2B. Femsa, the largest convenience retailer in Latin America, operates around 20,000 stores and over 3,600 pharmacies.