Heineken Nears a Deal With Femsa

Heineken is close to buying the beer operations of Femsa, one of Mexico’s biggest brewers, for $7.5 billion to $8 billion, people briefed on the matter said Sunday.

…Newcastle, Britain’s largest brewer, in a joint deal with Carlsberg valued at $15 billion.A deal for Femsa would give Heineken a bigger foothold in Latin America, especially the highly profitable Mexican market. The two companies already share ties: Heineken distributes Dos Equis and other Femsa products in the United States.For Femsa, merging with Heineken could help bolster its competitive position, especially as it continues to battle its larger Mexican rival, Grupo Modelo.About a quarter of Femsa’s 168 billion pesos ($12 billion) in revenue in 2008 came from its beer operations. The company posted about $1.6 billion in operating profit that year.A spokeswoman for Heineken declined to comment. A representative for Femsa could not be reached for comment. News of Heineken’s possible deal was first reported by The Wall Street Journal online….

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Heineken Nears a Deal With Femsa

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