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.
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