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Food & Beverage

Heineken Buying Back 150 Million Euros of Shares

November 17, 2010
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According to MarketWatch, Dutch brewer Heineken NV said it will begin the next phase of buying back its own shares, valued at up to 150 million euros ($202 million). The repurchase will run from Nov. 18 through June 16 and shares will be delivered to Fomento Economic Mexicano SAB in connection with Heineken''s acquisition of the company''s beer unit Femsa Cervesa in April. Heineken plans to deliver 29 million of its own shares to Femsa. As of Nov. 12, 9.1 million were repurchased, with 8 million delivered to Femsa. The remaining 1.1 million shares will be delivered before the end of 2010.

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