BELGIUM: InBev gets okay to chase rest of Quinsa
Inbev has been given the green light to try to buy the remaining shares in Quinsa that it does not already own.
The global brewer confirmed today (25 January) that the Commission de Surveillance du Secteur Financier in Luxembourg approved its plans to purchase any and all remaining Class A shares and Class B shares in the Argentine brewery. The offer includes Class B shares held as American Depositary Shares (ADS).
InBev indirectly owns approximately 97% of the voting interest and approximately 91% of the economic interest in Quinsa through its Latin American subsidiary AmBev.
The offer will be made by Beverage Associates Holding, a Bahamian corporation and a wholly-owned subsidiary of AmBev. The purchase price will be US$3.35 per Class A share and $33.53 per Class B share (US$67.07 per ADS). This corresponds to the same price per share paid by AmBev to Beverage Associates (BAC) on 8 August, in a negotiated transaction for the acquisition of BAC's controlling interest in Quinsa.
Following completion, Quinsa will de-list the remaining non-tendered ADSs from the New York Stock Exchange and the remaining non-tendered Class A shares and Class B shares from the Luxembourg Stock Exchange, as well as to terminate the registration of Class B shares.
The offer is scheduled to expire on 28 February.
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