Bill Gates buys into Mexican brewer Femsa

21 December 2007

Mumbai: Microsoft chairman Bill Gates has bought a three per cent stake in Mexican brewer Femsa for $392 million.

Gates acquired 10.81 million of Femsa's New York-traded American Depository Shares, equivalent to three per cent of its equity, through his investment fund Cascade Investment LLC, according to filing with US Securities and Exchange Commission.

Gates reported the stake acquisition, which does not require regulatory approval, in a passive filing with the SEC.

According to the filing, each ADS represents 10 BD units, each consisting of one series B share, two series D-B shares and two series D-L shares.

The filing showed that Gates owns a 1.2 per cent stake in Femsa's Series B shares, a five per cent stake in series D-B shares, and a five per cent stake in series D-L shares.

Femsa (Fomento Economico Mexicano), based in the northern city of Monterrey, is Mexico's second-largest brewer and the world's second largest Coke bottler.