UPDATE: BELGIUM: InBev holds fire on Quinsa shares
InBev has said that it has "no plans" to restart the tender for the outstanding shares in Argentina-based brewer Quinsa.
AmBev, InBev's South American unit, said yesterday (19 April) that its offer, to buy up to 6.8m class A shares and 8.6m class B shares in Quinsa, has expired and "will be withdrawn". AmBev had been trying to buy the shares through its Beverage Associates Holding subsidiary, having extended the deadline for the offer three times throughout this year.
When contacted by just-drinks today, a spokesperson for InBev said it had no short-term plans in place to wrest the minority shares. "Clearly some institutional investors decided that the offer was not good enough," the spokesperson said.
"We have no current plans to re-tender. Going forward, we will evaluate any alternatives vis-à-vis Quinsa." The spokesperson would not be drawn on what alternatives would be considered.
A number of minority shareholders had opposed AmBev's overtures since the offer was first made. Speaking to just-drinks last month, Amit Bhatiani of Duma Capital Partners in New York said that AmBev is not paying "a fair price for what we think Quinsa is worth to us".
The announcement earlier this week that Carlsberg and Heineken are discussing making a bid for Scottish & Newcastle came far too early for the two European brewers. With no bid having been actually ma...
The earlier-than-expected departure of Tony Froggatt as CEO of brewing force S&N has set the City rumour-mill churning. The brewer insists the move is a planned succession but, Chris Brook-Carter writ...
News this week that SABMiller and Molson Coors are to team up in the US beer market may have caught the industry by surprise, but the logic is compelling. As Olly Wehring reports, not only can the dea...
Companhia de Bebidas das Americas (AmBev) has stayed silent on speculation that it plans to buy the Cerpa brewery in northern Brazil....
Companhia de Bebidas das Americas (AmBev) has confirmed plans it is seeking to build a new plant in North Brazil....
Compania Cervecerias Unidas (CCU) is set to buy Argentine brewer Inversora Cervecera....
Heineken and two other brewers have been sued for alleged price fixing by an industry group representing Dutch bars....
The United Breweries Group has declared it will not buy Mohan Meakin at its current price, according to reports....
- What Brexit means for drinks industry? - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- The post-Brexit winners and losers - Analysis
- Is there a future for the global beer brand?
- Non-Scotch Whisky Essentials, Part II
- The UK Referendum - just-drinks Live Blog
- Aldi dealt alcohol sales blow in Australia
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- Maxxium eyes US$1.4bn opportunity in UK spirits
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Spirits and Wine: Corporate Overview
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends