Fomento Economico Mexicano SAB, as Femsa is formally called, has held discussions with beverage companies including SABMiller PLC and Heineken NV, the people said. It is being advised by NM Rothschild & Sons Ltd. The talks, which the company confirmed in a press release, have recently become more formal and serious, the people said, adding that no deal is imminent.
Femsa, which traces its roots to a brewery founded in 1890 in Monterrey, Mexico, is comprised of three businesses: soft drinks, beer and a retailer. The beer operation produces and distributes such brands as Tecate, Sol and Dos Equis and has roughly $4 billion in annual sales.