BDLaw advises FEMSA on beer operations contribution to Heineken N.V.

 International law firm BDLaw Bruckhaus Deringer has advised Fomento Económico Mexicano, S.A.B. de C.V (“FEMSA”) on the contribution of its beer operations to Heineken N.V. (“Heineken”).
International law firm BDLaw Bruckhaus Deringer has advised Fomento Económico Mexicano, S.A.B. de C.V (“FEMSA”) on the contribution of its beer operations to Heineken N.V. (“Heineken”).

The all share transaction will see Heineken acquire FEMSA Cerveza, comprising 100% of FEMSA’s Mexican beer operations (including its US and other export business) and the remaining 83% of FEMSA’s Brazilian beer business that Heineken does not currently own. As a result of the transaction, FEMSA will hold a 20.0% economic interest in the Heineken Group (with shareholdings at both Heineken and Heineken Holding N.V.).

The total implied enterprise value for FEMSA Cerveza is approximately €5.3 billion (USD7.6 billion).

The Freshfields team advising Carlos Aldrete, General Counsel of FEMSA, on the European aspects of the deal was led by London corporate partner Julian Long and Amsterdam corporate partner Richard Norbruis who were supported by London corporate senior associate Ollie Lazenby and Amsterdam corporate associate Quirijn Biesheuvel. Jaime El Koury led the Cleary Gottlieb team providing US advice on the deal.

Commenting on the transaction, Julian Long said: 'We are very pleased to have helped Carlos and the FEMSA team with this significant and innovative transaction which gives FEMSA an ongoing equity participation in the enlarged Heineken business and roles in the governance of Heineken'.