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Text size [+][-]  Friday March 12 2010GLOBAL EDITION

Feature
28 Oct 2009 15:41

Mas cerveza

RUN THE NUMBERS
 

Context News

Heineken on October 28 increased its forecast for organic net profit growth, before exceptional items and amortisation of brands. Growth is now expected to be in the low double digits for the full year 2009, against a previous forecast of at least high single digits.

On October 2, Fomento Económico Mexicano, better known as Femsa, said it is in talks with several parties about its beer division. Heineken and SABMiller are among the front-runners, according to news reports.

 




 



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The Dutch brewer probably can’t finance Femsa's $7.5bn-plus price tag with debt alone. To buy its Mexican partner, the family-controlled brewer would need to issue equity. Rob Cox and Aliza Rosenbaum show how it can do so without the family losing control - or spending a euro.

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