The founder of Microsoft, Bill Gates, during a visit to London (United Kingdom), on February 15. Justin Tallis (AP)
Bill Gates enters the beer business.
The Microsoft founder has bought a 3.76% stake in Dutch beverage giant Heineken Holding NV from Femsa, although the billionaire has previously said that he is "not a big beer drinker."
The registry of the Authority for the Financial Markets of the Netherlands (AFM) indicated that the shares were bought on February 16.
Gates bought 10.8 million shares, worth more than $939 million, triggering a disclosure requirement under Dutch stock market rules.
The billionaire acquired the shares from Mexico's Femsa, which has been divesting its stake in the brewer since last week.
Heineken Holding owns a majority stake in the brewer.
In a 2018 “Ask Me Anything” chat on Reddit, Gates stated that he was not a big drinker: “When I watch something like a baseball game, I drink light beer to keep up with other beer drinkers. .
Sorry to disappoint the true beer drinkers,” he said at the time.
The movements within Heineken have been triggered after the divestment decision of the Mexican Femsa to sell its stake in Heineken.
The largest Coca-Cola bottler in the world and owner of the Oxxo stores reported last Wednesday that it was selling 14.8% of its shares in the Dutch brewer to focus on its most profitable businesses such as retail.
The company explained that with these resources it will pay debt and finance future growth, through greater capital investments.
Following the announcement, Heineken itself repurchased $1 billion worth of shares from Femsa.
The world's second-largest brewer said its strong balance sheet allowed it to carry out the share acquisition.
The move does not change Heineken's capital allocation principles, which prioritize investment in organic growth and business expansion, chief executive Dolf van den Brink said.
Femsa's initial plan is to get rid of its Heineken shares within a period of 24 to 36 months, however, corroborating the good reception these titles have had in the market, the company's executives told EL PAÍS that they do not rule out that the process can be carried out sooner than expected.
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