Heineken maintains FEMSA Brazil stake at 17 percent

On the occasion of presenting the brewer’s half-year results, Heineken’s CFO, Rene Hooft Graafland, reported that Heineken has exercised its option of maintaining a 17 percent stake in beverage company FEMSA Brazil.

FEMSA Brazil, which includes the Kaiser brewery, is part of the FEMSA group. Earlier in the year, FEMSA had increased its capital in Brazil by USD 200 million. That diluted Heineken’s stake somewhat. But Heineken’s Chief Financial Officer, Rene Hooft Graafland, said that in order to maintain its original 17 percent stake Heineken had to conduct a capital increase too, amounting to USD 35 million or 17 percent of FEMSA’s USD 200 million.