AUSTRIA: Heineken closer to BBAG goal
Heineken said in a statement that it held 80% of the shares in the holding company of Austria's BBAG, passing the 75 percent threshold on which the offer was contingent.
The deal will make Heineken the largest brewer in Central Europe. The deal, which was announced in early May was a €1.9 billion bid. In the statement Heineken said it expected to buy the remaining shares of the holding company over the next two years.
Heineken's next steps will be to seek regulatory approval and then to launch a public offer for the outstanding shares of BBAG and its sub-holding Brau Union. Heineken will make offers at prices of €124.00 per BBAG share and €127.27 per BU share. These offers are expected to be made in the final quarter of 2003/first quarter of 2004.
After completion of the transaction, Heineken and BBAG will combine all their operations in Central Europe in the newly formed company Brau Union AG. This company will be responsible for all operations in 13 Central European countries, namely: Austria, Poland, the Czech Republic, Romania, Hungary, Serbia-Montenegro, Slovakia, Bulgaria, Croatia, Bosnia-Herzegovina, Slovenia, Macedonia and Albania.
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 ...
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
Grupo Empresarial Bavaria is not looking to sell up, its president has confirmed....
- The category today - Scotch Whisky I
- Today's Market Trends - Scotch Whisky II
- Key Brands Performance - Scotch Whisky IV
- Tomorrow's Market Trends - Scotch Whisky III
- Category Trends - Scotch Whisky V
- Brown-Forman shuffles director pack
- Diageo to accept US$1m South Korea fine
- Beam Suntory names CFO, makes structural changes
- Spirits can fill music industry gap - Jagermeister
- Diageo's Smirnoff Red, White & Berry - NPD
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Soft Drinks Global Overview: Growth Opportunities Between Category Lines
- Consumer and Market Insights: Wine Market in China
- Global travel retail insights - market forecasts, product innovation and consumer trends