Quilmes Industrial S.A. Announces Agreement On the Final Price Adjustment Related to the Purchase of a 51.17 Percent Equity Stake in Buenos Aires Embotelladora S.A.
Quilmes Industrial (Quinsa) S.A. (NYSE:LQU; "Quinsa" or the "Company") today announced that its subsidiary Cerveceria y Malteria Quilmes S.A. ("CMQ") has reached an agreement with PepsiCo Inc., Citibank, Bank Boston and certain of their affiliates (the "Selling Shareholders") on the final adjustment to the price paid for the 51.17% stake in BAESA it acquired on December 6, 1999. The adjustment, based on working capital variations that occurred prior to CMQ's purchase of BAESA, has resulted in a US$ 7.0 million reduction in the price paid for its stake to US$ 73.6 million, or US$ 4.86 per share. The total amount of the price reduction will be reimbursed by the Selling Shareholders to CMQ. In accordance with its agreements with the Selling Shareholders, CMQ will be tendering for the BAESA shares it has not already acquired at a price per share yet to be determined, which in any event will be no lower than US$ 4.86. CMQ intends to initiate the appropriate filings with the Argentine Comision Nacional de Valores and the Securities and Exchange Commission of the U.S. within the next 30 days.
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 16 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
- Diageo's Q4/FY 2016 results - Preview
- Diageo's FY performance by region - Focus
- Wine consumption and its health effects
- Can craft breweries compete in lager arena?
- Time to take stock of Constellation's Corona
- Diageo sets sights on alcohol-alternative trends
- SABMiller puts brakes on A-B InBev integration
- Diageo names new TR head as Doug Bagley exits
- AB InBev seeks single buyer for European beers
- Brexit "not a big deal" for Scotch - Diageo CEO
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends