HEINY - Major Heineken shareholder announces plan to sell stake

Fomento Economico Mexicano SAB (FEMSA) is eyeing a divestment of its stake in Heineken ( OTCQX:HEINY ), according to a statement from the Dutch brewer.

The decision to divest comes after a strategic review by the Mexican conglomerate which held the stated aim of narrowing the core focus of the company. The divestment is due to be completed over the next 24 to 36 months. As of the close of 2021, the company held a 14.8% stake in Heineken.

“Heineken respects FEMSA's decision to refocus its strategic priorities and would like to thank FEMSA for its contribution and support in growing our business over the past thirteen years,” the Dutch beer giant said in a statement. “Heineken will carefully consider the implications and evaluate all options following the announcement of FEMSA. This may include the option to acquire shares from FEMSA in any future sale, subject to market and other conditions.”

Heineken shares rose modestly during Thursday’s trading.

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