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Bill Gates Pours $390 Million Into Mexican Brewer

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[ Business]

Bill Gates has invested $390 million dollars in Mexican brewer Femsa through his Cascade Investment Fund, according to the brewer.


Femsa

Gates now owns about 3 percent of Femsa, the world’s second largest bottler of Coke and Mexico’s second largest brewer. Femsa brews such beers as Tecate, Sol, Superior and Kaiser.

The chairman of Microsoft Corp reported the stake in a passive filing with the Security and Exchange Commison, which does not require the investor to disclose when the securities were purchased or the purpose behind the transactions.

Femsa also operates Oxxo, Latin America’s largest convenience store chain with over 4,300 locations. The company has been around since 1890 and is based in the northern city of Monterrey.

Jose Antonio Fernandez Carbajal, chief executive officer and chairman of the board of Femsa said, " these kinds of decisions by large investment funds shows the recognition and confidence in the performance of our company."

Femsa’s shares rose 7.5 percent on Wall Street on Thursday and its local stock 7.43 percent to $39.45 pesos.
 

Bill Gates Pours $390 Million Into Mexican Brewer
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