FEMSA Shareholders Hold Annual Meeting and Approve Transaction with Heineken
Shareholders approved the exchange of 100% of FEMSA’s beer operations in Mexico and Brazil for a 20% economic interest in the Heineken Group.
27 Apr 2010 --- Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) held its Annual Ordinary General Shareholders Meeting, during which shareholders approved the transaction with Heineken, the annual report for 2009 presented by the Board of Directors, FEMSA consolidated financial statements for the year ended December 31, 2009, the declaration of dividends corresponding to fiscal year 2009 and the composition of the Board of Directors for 2010.
Shareholders approved the exchange of 100% of FEMSA's beer operations in Mexico and Brazil for a 20% economic interest in the Heineken Group, and the assumption by Heineken of debt in the amount of US$2,100 million dollars. Shareholders approved the payment of a cash dividend in the amount of Ps. 2,600 million. The dividend payment will be split in two equal payments, payable on May 4, 2010 and November 3, 2010.
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico, with presence in Brazil, and an important beer exporter to the United States and other countries; and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 7,400 stores.