Bill Gates Buys Stake in Heineken for $902 Million
Bill
Gates Buys Stake in Heineken for $902 Million
Why In News
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Bill Gates has acquired a
minority stake in Heineken Holding NV, the
controlling shareholder of the world’s second-largest brewer, for about $902
million.
Key Points
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Bill Gates has acquired a minority stake
in Heineken Holding NV, the controlling
shareholder of the world’s second-largest brewer, for about $902 million.
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The Microsoft founder and philanthropist
picked up 3.8% of Heineken Holding, according to
a filing by the Dutch regulator AFM.
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He bought 6.65 million shares in Heineken
Holding, in his individual capacity, and another 4.18 million shares through
the Bill & Melinda Gates Foundation Trust.
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The shares are valued at €848.2 million ($902
million), according to Bloomberg calculations at
closing share price value of February 17. Gates acquired the stake on the same
day that Fomento Economico Mexicano SAB launched a €3.7
billion stock and equity-linked sale for part of its holdings in
Heineken.
Big Investments In Heineken:
·
Femsa, as the Mexican Coca-Cola
bottler
and convenience store operator is known, announced plans to offload its stake
in Heineken after a strategic review.
·
Femsa said its accelerated bookbuild offering
of €1.9 billion in shares in Heineken NV priced at €91 apiece, and €1.3 billion
in shares in Heineken Holding sold at €75 each.
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Heineken Holding controls 50% of Heineken NV,
maker of the namesake beer as well as Amstel, Moretti, and Sol among others.
Investment by Bill & Melinda
Gates Foundation Trust:
·
The Bill & Melinda Gates Foundation Trust
foundation has also invested in Dutch online grocer
Picnic BV and holds a 1.34% stake in Dutch fertilizer producer OCI NV.
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The foundation has long been a powerhouse in
the nonprofit world, employing almost 1,800 people and spending nearly $80
billion since 2000.