BELGIUM: InBev extends Sun Interbrew deadline
InBev has extended the deadline for the receipt of acceptances for the recommended offers of USD33.41 in cash for the remaining shares and Securities that it does not already own in SUN Interbrew (SIL) to May 26th 2005.
As at May 12th 2005, acceptances of the offers and market purchases of SIL Securities by InBev during the offer period gives it a 99.7% economic interest in SUN Interbrew.
A statement said: "Holders of SIL securities are reminded that after the offers close InBev intends to change the domicile of SIL from Jersey to another jurisdiction and to de-list the SIL Securities from the Luxembourg Stock Exchange."
InBev currently expects that the application for such de-listing and cancellation will be made by the end of Q2 2006.
The statement continued: "The offers will be settled up to ten calendar days after the end of the offer period. Unless InBev has purchased or received valid acceptances in respect of both (i) at least 90% of the Class A Securities, AND (ii) at least 90% of the Class B Securities, (the "Condition") InBev is not obliged to purchase any SIL Securities under either the Class A Offer or the Class B Offer. This percentage may be reduced at the discretion of InBev."
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