Heineken starts next phase of share repurchasing programme
Posted: 6 September 2011 | Heineken | No comments yet
Heineken N.V. will begin the next phase of repurchasing its own shares up to a maximum value of €225 million…
Heineken N.V. announced today that in connection with the acquisition of FEMSA Cerveza that was completed on 30 April 2010, it will begin the next phase of repurchasing its own shares up to a maximum value of €225 million. For this new phase, Heineken has mandated a bank to repurchase Heineken N.V. shares in the open market on the company’s behalf, starting 6 September 2011, up to and including 31 October 2011, allowing the execution of the share repurchase to continue during closed periods.
These shares are intended to be delivered to Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) or a FEMSA group company under the terms of the Allotted Share Delivery Instrument (the “ASDI”) concluded between Heineken N.V. and FEMSA.
The ASDI sets forth the terms under which Heineken N.V. will deliver approximately 29.2 million Allotted Heineken N.V. shares to FEMSA. Until today, approximately 23.0 million shares have already been repurchased of which 20.3 million shares were delivered to FEMSA.
The share repurchase programme is being executed in line with the authorisation given by the Annual General Meeting of Shareholders.
Heineken posts the progress made in the execution of the programme on its website www.heinekeninternational.com on a weekly basis.