UPDATE 2-Mexico's Femsa to sell a 5 pct stake in Heineken, worth 2.5 bln euros

euros@ (Adds L'Arche Green comment)

MEXICO CITY, Sept 18 (Reuters) - Heineken Holding NV shareholder Fomento Economico Mexicano (Femsa) said on Monday it was planning to sell an approximate 5 percent stake in the Dutch brewery, worth 2.5 billion euros ($3 billion).

Femsa, a Mexican bottler and retailer, said the offer would be aimed at institutional investors outside of Mexico.

Femsa holds 12.53 percent of Heineken, or roughly 72 million shares, according to Thomson Reuters data. That would mean Femsa is selling about 40 percent of its stake.

The Mexican company said it would retain three Heineken board seats after the offer closes. It did not give any further details on the share offer.

LArche Green, the company through which the Heineken Family exercises control of Heineken Holding N.V., said it would buy back shares worth 200 million euros. The price per share would be determined by Femsa's offer, it said in a statement.

"The participation of LArche Green N.V. in the share offering by Femsa underlines the long-term commitment of the Heineken Family towards the Heineken company," said L'Arche Green, which added that it was advised by Citigroup.

Heineken did not immediately respond to a request for further comment.

In July, Heineken told Femsa's bottling unit Coca-Cola Femsa that it was set to lose its contract to distribute the beer in Brazil. At the time, Femsa executives said talks about dissolving that contract would not affect the larger strategic relationship between the companies.

Shares in Femsa were up about 1.5 percent at 174.69 pesos ($9.84) per share at 1238 local time (1738 GMT) on Monday, while Heineken shares were down 0.06 percent at 87.59 euros per share.

($1 = 17.7460 pesos)

($1 = 0.8380 euros) (Reporting by Gabriel Stargardter; Additional reporting by Anthony Deutsch; Editing by Rosalba O'Brien and Dan Grebler)