Fomento Economico Mexicano (FMX) sold its final stake in Heineken Holding for 359 million euros ($404.2 million), Bloomberg News reported Tuesday.
The Mexican company reportedly sold 5.2 million shares at 68.70 euros per share, about 3% below Monday's close, prompting a drop in Heineken's stock price.
Femsa acquired a 20% stake in Heineken in 2010 but has gradually divested to focus on its Latin American and European retail operations, the outlet reported.
Heineken Holding shares fell as much as 3.6% on Tuesday morning, extending a 12-month decline to about 12.5%, Bloomberg reported.
Heineken, Femsa, Barclays, and Morgan Stanley did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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