News

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.

Most popular

The just-drinks Analyst returns

just-drinks speaks to Distill Ventures' CEO

Why spirits must rethink its future positioning

The just-drinks Analyst returns

Why spirits should look back to move forwards

MORE

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.


Related Content

How Brexit will affect the wine market in the UK - Focus

How Brexit will affect the wine market in the UK - Focus...

AdeS soy-based beverages - what have Coca-Cola Co, Coca-Cola FEMSA bought for US$575m? - The Facts

AdeS soy-based beverages - what have Coca-Cola Co, Coca-Cola FEMSA bought for US$575m? - The Facts...

June Management Briefing - The BRICM Markets – Part II: Brazil

June Management Briefing - The BRICM Markets – Part II: Brazil...

Comment - Beer - M&A: Time to Play?

Comment - Beer - M&A: Time to Play?...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?