MEXICO CITY Mexico's FEMSA has gotten approval from the country's antitrust regulator for the sale of its beer business to Dutch brewer Heineken NV, the bottler said Monday, according to a Reuter's report.
FEMSA agreed in January to sell its beer unit in exchange for a 20% stake in Heineken, the world's third-largest brewer, in the latest round of consolidation in the global beer market.
"The Comision Federal de Competencia, Mexico's antitrust regulator, has approved without reservation the strategic exchange of 100% of the shares of the beer operations [image-nocss] owned by FEMSA for an interest in Heineken," FEMSA said in a statement.
U.S. trade authorities have already approved the deal, which the company said would close in the second quarter after approval by shareholders and regulators in other jurisdictions.
FEMSA is selling its beer unit as it focuses on expanding its soft-drink and convenience-store (OXXO) businesses.
White Plains, N.Y.-based Heineken USA, a major beer importer, is a subsidiary of Heineken International BV, Amsterdam. Brands imported into the U.S. include Heineken Lager, Heineken Light Amstel Light, Newcastle Brown Ale and Buckler nonalcoholic brew. Heineken USA is also the exclusive USA importer for the Tecate, Tecate Light, Dos Equis, Sol, Carta Blanca and Bohemia brands from FEMSA Cerveza of Mexico.
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