BRAZIL: AmBev closes tender offer for Quinsa shares
The South American unit of global brewer InBev said today (12 February) that the voluntary offer to buy up to 5.5m class A and 8.8m class B shares in the subsidiary has expired.
AmBev said it has bought 3.1m class A and 8.2m class B shares in Quinsa through the offer, representing 57% and 94% respectively of the shares it did not already own in the South American unit.
"As a result, upon settlement of the offer, which will occur on 15 February, AmBev's voting interest in Quinsa will be 99.56% and its economic interest will be 99.26%," AmBev said.
Late last month, AmBev upped the offer price for the remaining shares to US$4.125 and $41.25 per class A and B shares. The move came after a failed tender offer in 2008, which garnered only a 0.63% lift in voting rights in Quinsa.
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