A MAJOR DEAL BREWING
In a move to expand it operations in the Western Hemisphere, Dutch brewer Heineken has announced plans to buy the beer operations of Mexico’s Fomento Económico Mexicano (FEMSA) for about $7.6 billion. The deal will give Heineken control of FEMSA’s key export brands, including Dos Equis, Tecate and Sol. The companies said the all-stock deal includes about $2.1 billion in debt and pension obligations. Under the terms of the deal, FEMSA will gain a 2O% economic interest in the Heineken Group and will have the right to appoint two non-executive representatives to Heineken’s board. The deal, which is subject to shareholder approval, is expected to close in the second quarter.