GERMANY: Interbrew acquisition of Brauergilde Hannover AG closed
Interbrew, the Belgian brewer, has announced that its acquisition of Brauergilde Hannover AG closed earlier this week.
In a statement the company said: "In compliance with the German Take-over Act, a wholly-owned German subsidiary of Interbrew has announced mandatory offers for the remaining shares of Gilde Brauerei AG, Hanover, and Hofbrauhaus Wolters AG, Braunschweig. The terms of the mandatory offers will be set forth in the respective offer documents after clearance of the publication by the German financial services regulator."
"We are pleased that our acquisition of Gilde Brauerei has now been closed", said Dieter Ammer, Regional President Germany, Southern Europe & Export. "The Gilde brands will considerably strengthen our German platform and enhance the product offering to our consumers."
In November Interbrew offered to acquire Brauergilde Hannover, the parent company of German brewer Gilde Brauerei, in a deal valued at €523m (US$526.6m). However, in an extraordinary turn of events, the German city of Hanover said it would file a law suit to stop the Belgian beer giant from buying Gilde Brauerei, following fears of job losses.
However the company eventually won the City's support and the deal went ahead.
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