InBev says AmBev unit official offer for Quinsa stake expired without success |
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Fri, 20 Apr 2007 07:50
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BRUSSELS (Thomson Financial) - Brewer InBev SA said its Companhia de Bebidas das Americas (AmBev) unit's official offer to acquire the 8.8 pct remaining shares that it does not already own in its Quilmes Industrial SA (Quinsa) unit has expired.The offer, which terminated last night at 11 pm Luxembourg time, was made by Beverage Associates Holding Ltd (BAH), a Bahamian group and a wholly-owned unit of AmBev.At the expiration of the offer, 2,535,448 Class A shares and 1,618,379 Class B shares -- representing 0.63 pct of the voting rights of Quinsa, had been tendered in and not withdrawn.The group said the minimum tender condition of the offer required that 3,939,387 Class B shares be validly tendered and not withdrawn.As a result, the target was not reached and, as a result, the offer expired and will be withdrawn without BAH purchasing any Class A or Class B shares.All the shares that were tendered in the offer will be returned to the respective holders.Quinsa is the largest brewer in Argentina, Bolivia, Paraguay and Uruguay, with a share of the Chilean market as well.It is also the main Pepsi bottler in Argentina and Uruguay.simon.zekaria@thomson.comsz/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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InBev says Ambev unit extends official offer for Quinsa stake to April 5 