BELGIUM: AmBev extends Quinsa deadline - yet again
AmBev has extended once again the period of its offer to buy the remaining shares in Argentina-based brewer Quinsa.
Belgium-based brewing giant InBev, which owns AmBev, announced the extension of the offer yesterday (5 March). The further postponement - to 5 April - follows Ambev's announcement earlier this month that it was extending the deadline to today (16 March).
The offer, to buy up to 6.8m class A shares and 8.6m class B shares, has been made through Beverage Associates Holding, a Bahamian corporation and wholly-owned subsidiary of AmBev. BAH is offering US$3.35 per class A share and $33.53 per class B share.
When contacted by just-drinks, a spokesperson for InBev said: "The reason for AmBev extending the offer period for the second time is related to the regulatory process being unpredictable, particularly because we have regulators in two jurisdictions, the US and Luxembourg. Consequently, what is very typically done is to commence the offer for the minimum period legally permitted and extend as necessary."
AmBev already owns around 97% of the voting interests and around 91% of the economic interests in Quinsa.
Earlier this month, a minority investor in Quinsa complained to the company over AmBev's plans to acquire the shares. Private equity firm Duma Capital Partners said that it was not satisfied with the handling of AmBev's offer to outstanding shareholders. When asked if there was a link between this and the deadline extension, the spokesperson said: "The extension is linked to the regulatory process, not to recent opinions expressed by some minority shareholders."
Grupo Modelo has had its share coverage lifted....
InBev is looking to invest up to EUR60m (US$82.8m) in operations at three of its European breweries....
SABMiller has played down suggestions that it is mulling acquisitions in Germany....
InBev has reported a strong showing in its second quarter, despite "challenging conditions" in both the UK and US....
Beer appears to be the alcoholic drink of choice in the developing BRIC markets, according to a series of recent reports....
InBev has remained silent on speculation that it may look to buy Budejovicky Budvar in the Czech republic....
InBev has stayed silent on recent media speculation that Raja Mukerji will join its joint venture with RJ Corp in India....
The board of Companhia de Bebidas das Americas (Ambev) has approved a share buyback program....
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- Mike’s Hard Lemonade Could Be a Hard Sell
- What do A-B InBev results mean for SABMiller deal?
- just The Preview - Anheuser-Busch InBev's Q4 & FY
- Diageo "smart bottle" targets consumers at home
- Suntory whiskey seeks to "eclipse" Diageo, Pernod
- Tesco reinstates Dan Jago following suspension
- Diageo adds Dubai to Johnnie Walker skyline series
- Asahi Beverages CEO to step down - report
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report