BRAZIL: AmBev closes tender offer for Quinsa shares

By just-drinks.com editorial team | 12 February 2008

AmBev has completed its share tender offer for Quinsa.

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.

Sectors: Beer & cider, Soft drinks, Water

Companies: AmBev, Quinsa