Mexican Brewer Greets Investors

Mexico’s Femsa is meeting the buyside this week in a “non-deal” roadshow, according to investors. BofA-Merrill Lynch and Goldman Sachs are heard managing the meetings, which will apparently include US stops. The brewer has received mixed reviews following the announcement of a sale of its beer unit to Heineken for $7.3bn in stock. Its shares initially fell 13%on the news, before recovering somewhat following analysts’ buy recommendations. Fitch affirmed Femsa’s debt rating, while Moody’s placed it on review for a possible downgrade, citing a rise in debt and loss of revenue. Femsa has not issued a dollar bond since 1999, according to Dealogic.