(AFP) – Dutch beer maker Heineken said Monday it would acquire Mexico’s Fomento Economico Mexicano (Femsa) brewery, valued at 5.3 billion euros (7.7 billion dollars), through an all-share transaction.

“Heineken… will create a major new platform for growth by acquiring the beer operations of Femsa via an all share transaction,” the Dutch company said in a statement.

“Heineken will acquire Femsa Cerveza, comprising 100 percent of Femsa’s Mexican beer operations and the remaining 83 percent of Femsa’s Brazilian beer business that Heineken does not currently own.”