LUXEMBOURG: Quilmes Industrial -Quinsa- S.A. Announces Results of the Tender Offer for Class B Shares and ADSs of BAESA
Quilmes Industrial (Quinsa) S.A.; "Quinsa" or the "Company") today announced that Cerveceria y Malteria Quilmes S.A.I.C.A. y G. ("Quilmes") announced today the provisional results of its public tender offer for all the outstanding class B shares and ADSs (each ADS representing 1/50 class B share) that it does not already own of Buenos Aires Embotteladora S.A. ("BAESA"). This offer expired on Friday, July 7, 2000, at 4 p.m. New York time, and 5 p.m. Buenos Aires time. In the United States tender offer, 57,073,998 ADSs and 154,144 class B shares (representing in the aggregate approximately 4.37% of the outstanding common stock of BAESA) were validly tendered and not withdrawn prior to the expiration date of the U.S. offer. In the Argentine tender offer 847,137 class B shares (representing approximately 2.86% of the outstanding common stock of BAESA) were validly tendered and not withdrawn prior to the expiration date of the Argentine offer. In the aggregate, the number of class B shares and ADSs validly offered and not withdrawn prior to the closing date of the offer was 1,001,281 class B shares and 57,073,998 ADSs, in the aggregate representing approximately 7.23% of common stock of BAESA. Thus, following purchase of the class B shares and ADSs, Quilmes will own 24,318,092 class B shares and 89,331,344 ADSs, and its stake in BAESA will be 86.51%. Quilmes will accept for payment all of the foregoing ADSs and class B shares, subject to the terms and conditions of the two offers. Payment for the tendered class B shares and ADSs of BAESA is expected to be made on Wednesday, July 12, 2000. The cost to Quilmes of the transaction is approximately US$ 10,713,805, representing an acquisition of approximately 2,142,761 class B shares at a price of US$5.00 per class B share.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Analysis - SABMiller to add bolt-ons in Africa?
- A-B InBev's Move on Tennent's Super Makes Sense
- India: Everyone's Favourite Spirits Market
- Brand Diversification Driving Craft Brewery Growth
- Analysis - Stock Spirits: Poland's number one
- Diageo scraps Arthur's Day, but singer left sad
- Pernod Ricard's Café de Paris Pear, Pomegranate
- PepsiCo CEO sees "profound" change in US consumers
- William Grant sinks GBP185,000 into "No" camp
- SodaStream silent on John Lewis pullout in UK