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Last Updated: Friday, 21 December 2007, 06:54 GMT
Gates invests in Mexican brewer
Bottle of Sol lager
Sol shone in Europe for many years
Microsoft chairman Bill Gates has bought a 3% stake in Mexican brewer Femsa, the firm behind Sol lager.

The investment, revealed in a filing with US stock market regulators, was made through his asset management firm Cascade Investment.

Cascade spent $392m (197m) on building up its holding in the Monterrey based firm - in business since 1892.

Femsa's US listed shares jumped 7.5% on the news while its Mexican-listed shares rose 7.4%.

'Recognition'

Mexico's second largest brewer, Femsa is also the world's second largest bottler of Coca-Cola.

It distributes the soft drink throughout Latin America.

It is not known when Cascade bought the shares or what its purpose was in doing so.

But Femsa said the move signalled investor support for its business.

"This type of decision on the part of large investment funds is a show of recognition and confidence in our company's performance," said president Jose Antonio Fernandez.

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