DENMARK/POLAND: Royal Unibrew, Van Pur complete merger
By just-drinks.com editorial team | 21 March 2011
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Royal Unibrew has merged its operations in Poland with Van Pur |
Royal Unibrew has completed the merger of its Polish unit with Van Pur brewery group in the country.
The agreement, initially announced back in December, was confirmed by the Danish brewer as having “been finally realised” late last week. Royal Unibrew Polska has breweries in Lomza and Jedrzejow in the country.
Van Pur will subsequently be recognised in Royal Unibrew's financials as being a 20%-owned associate, while Royal Unibrew Polska will no longer be included. The company added, however, that it had “proved difficult in terms of time to register the required changes” of its ownership of Perla Browary Lubelskie, control of which will subsequently be maintained by Royal Unibrew.
The transaction has cost Royal Unibrew around PLN110m (US$38.3m), compared to the previously estimated PLN100m.
Van Pur has a put option on Royal Unibrew's stake, meaning it can buy the full holding for between PLN111m and PLN116m at any point between 1 June 2012 and 15 March 2014.
Back in 2009, Van Pur acquired one of Royal Unibrew Polska's breweries and all of its Polish beer brands for around $6.7m.
To read the official announcement, click here.
Sectors: Beer & cider, Mergers & acquisitions
Companies: Unibrew
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