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AMSTERDAM, Nov 7, 2012 - (ACN Newswire) - Heineken N.V. ('HEINEKEN') today announced that the Competition Commission of Singapore (the 'CCS') has granted clearance for the acquisition by Heineken International B.V. ('HIBV') of Fraser and Neave, Limited's ('F&N') direct and indirect interests in Asia Pacific Breweries Limited ('APB') and F&N's interest in the non-APB assets held by Asia Pacific Investment Private Limited ('APIPL') (the 'Transaction'). The CCS has found that the Transaction, if carried into effect, will not infringe the Section 54 prohibition of the Competition Act of Singapore.
To date, the conditions precedent specified in paragraphs 2.1(a), (b), (c) and 2.2(a) of the Pre-conditional Offer Announcement (as defined below) are satisfied. Accordingly, HEINEKEN and F&N have agreed to complete the Transaction by no later than 20 November 2012. Upon completion of the Transaction, HEINEKEN will own in aggregate a 95.3% stake in APB.
After completion of the Transaction, HIBV will make a mandatory general offer ('MGO') for all the shares of APB that the HEINEKEN group does not already own, in accordance with the Singapore Code on Take-overs and Mergers. Subsequently, HEINEKEN will seek to delist APB. Further details of the MGO will be provided in the MGO Announcement to be made by Credit Suisse and Citi on behalf of HIBV on completion of the Transaction.
Directors' Responsibility Statement
The directors of each of HIBV and HEINEKEN (including those who may have delegated supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that there are no other material facts not contained in this Announcement the omission of which would make any statement in this Announcement misleading.
Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from F&N or APB, the sole responsibility of the directors of each of HIBV and HEINEKEN has been to ensure through reasonable enquiries that such information has been accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this Announcement.
The directors of each of HIBV and HEINEKEN jointly and severally accept responsibility accordingly.
Disclaimer
Completion of the Transaction will only occur if and when all the relevant conditions precedents set out in the sale and purchase agreement entered into between HIBV and F&N are satisfied and/or waived. Please refer to the pre-conditional offer announcement made by Credit Suisse and Citi, for and on behalf of, HIBV on 17 August 2012 ("Pre-conditional Offer Announcement"), for further information. This press release should be read in conjunction with the Pre-conditional Offer Announcement. A copy of the Pre-conditional Offer Announcement is available on www.sgx.com .
Press enquiries
John Clarke
E-mail: john.g.clarke@heineken.com
Tel: +31-20-5239-355
John-Paul Schuirink
E-mail: john-paul.schuirink@heineken.com
Tel: +31-20-5239-355
Charles Armitstead
Pendomer Communications
E-mail: charles.armitstead@pendomer.com
Tel: +44-7703-330-269
Investor and analyst enquiries
George Toulantas
E-mail: investors@heineken.com
Tel: +31-20-5239-590
Lucia Bergamini
E-mail: investors@heineken.com
Tel: +31-20-5239-590
Editorial information:
HEINEKEN is a proud, independent global brewer committed to surprise and excite consumers with its brands and products everywhere. The brand that bears the founder's family name - Heineken(R) - is available in almost every country on the globe and is the world's most valuable international premium beer brand. The Company's aim is to be a leading brewer in each of the markets in which it operates and to have the world's most valuable brand portfolio. HEINEKEN wants to win in all markets with Heineken(R) and with a full brand portfolio in markets of choice. The Company is present in over 70 countries and operates more than 140 breweries with volume of 214 million hectolitres of group beer sold. HEINEKEN is Europe's largest brewer and the world's second largest by revenue. HEINEKEN is committed to the responsible marketing and consumption of its more than 200 international premium, regional, local and specialty beers and ciders. These include Amstel, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's, Heineken, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, and Zywiec. Our leading joint venture brands include Cristal, Kingfisher, Tiger and Anchor. In 2011, revenue totaled EUR17.1 billion and EBIT (beia) was EUR2.7 billion. The number of people employed is around 70,000. Heineken N.V. and Heineken Holding N.V. shares are listed on the Amsterdam stock exchange. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter Equities 2000 Service under HEIN.AS and HEIO.AS. Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com .
click here to open release: http://hugin.info/130667/R/1655388/534894.pdf
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HEINEKEN NV via Thomson Reuters ONE
Topic: Issue of Stocks/Bonds
Source: Heineken N.V.
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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