NEW ZEALAND: APB to purchase remaining DB stock
Asia Pacific Breweries Ltd is to use its surplus cash to buy the remaining 23% of New Zealand's DB Breweries Ltd. it does not already own. APB, a Singapore-based brewing venture partly owned by Heineken, said today that it was offering a 20% premium, or NZ$9.50 (US$6.10) a share, for the rest of DB, valuing the New Zealand brewer at NZ$479 m.
The acquisition will cost APB US$71 m.
In a statement, APB said: "The offer is being made to enable APBL to privatise and de-list DB, and reflects APBL's strong long-term commitment to its business in New Zealand."
While there is little growth in the New Zealand beer market, it is expected that DB will continue to compete for market share with its number one rival Lion Nathan Ltd. DB is also expected to cut costs further and to change its product mix, focusing more on premium brands such as Heineken.
In May, the New Zealand brewer announced a 2.1% rise in net profit to NZ$17.2m (US$10.37m) for the first half to 31 March, compared with NZ$16.8m a year earlier. Operating profit, expressed as EBIT, rose by 14.2% year-on-year to NZ$26.8m.
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
ING has raised its target for Heineken's share price after analysing the brewer's options to save costs....
Heineken's CEO-in-waiting has no plan to radically alter the brewer's strategy, he said in an interview today....
Heineken has restructured its top management, in a move that includes the retirement of current CEO and chairman Thony Ruys from October this year....
Heineken said yesterday that its Austrian subsidiary Brau Union AG has signed an agreement for the divestment of its Real Estate Division. This division comprises all non-business related real estate ...
Demand and profit problems for Australian wine producers in both home and export markets are becoming more apparent....
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
- Ten questions for Diageo - Analysis
- Have spirits companies forgotten the mainstream?
- How craft beer has shattered its US shackles
- Does alcohol accelerate the onset of dementia?
- Ashwagandha - The next functional drinks trend?
- Moet Hennessy unaffected by LVMH Dior buy
- BrewDog moves into spirits with LoneWolf launch
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Johnnie Walker Bourbon Cask & Rye Finish - NPD
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Craft Beer: Coming of Age or Past Its Prime?
- Myanmar - ISA Country Report