Heineken starts first phase of repurchasing shares in preparation for the acquisition of FEMSA Cerveza
The ASDI sets forth the terms under which Heineken N.V. will deliver approximately 29 million Allotted Shares to FEMSA in two instalments per year over a period of not more than five years. Heineken has the option to accelerate the delivery of the shares at its discretion.
For this first phase, Heineken has mandated a bank to repurchase Heineken N.V. shares in the open market on Heineken’s behalf, starting 8 March 2010 up to and including 8 June 2010, allowing the execution of share repurchases also during closed periods.
Source
BRAUWELT International 2010