By Michael Susin

Heineken N.V. said Tuesday that it intends to buy its own shares from the Fomento Economico Mexicano offering of both Heineken and Heineken Holding N.V. shares. The Dutch brewer said that of Femsa's total offering of around 3.3 billion euros ($3.53 billion) it will purchase 10%, funded from existing cash resources and committed credit facilities.

Heineken said that Femsa will also offer senior unsecured exchangeable bonds in the aggregate principal amount of up to EUR250 million, which are exchangeable into shares of Heineken Holding N.V.

The impact is expected to be minimal and will be earnings-per-share accretive, it added.

"Heineken and Heineken Holding N.V. will not be issuing or selling shares as part of the Femsa equity offering and will not receive any proceeds from it," it added.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

May 30, 2023 13:24 ET (17:24 GMT)

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