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Heineken Commences Next Phase of Share Repurchasing Programme

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Heineken Commences Next Phase of Share Repurchasing Programme

Heineken Commences Next Phase of Share Repurchasing Programme
June 21
09:59 2011

Heineken has announced that in connection with the acquisition of South American brewer FEMSA Cerveza that was completed on 30 April 2010, it will begin the next phase of repurchasing its own shares up to a maximum value of Eur300m. These shares are intended to be delivered to FEMSA or a FEMSA group company under the terms of the Allotted Share Delivery Instrument (ASDI) concluded between Heineken and FEMSA.

The ASDI sets forth the terms under which Heineken will deliver approximately 29 million Allotted Heineken shares to FEMSA. Until 16 June 2011, approximately 14.9 million shares were already repurchased of which 13.1 million shares were delivered to FEMSA. The remaining 1.8 million shares will be delivered before 1 July 2011.

Heineken is Europe’s largest brewer and the world’s third largest by volume. On a 2010 pro-forma basis, including FEMSA Cerveza, revenue totalled Eur17b and EBIT was Eur2.7b. Heineken has more than 200 international premium, regional, local and specialty beers and ciders. These include Amstel, Birra Moretti, Cruzcampo, Dos Equis, Foster’s, Kingfisher, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec.

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