Heineken, Coca-Cola Hellenic reach agreement to acquire 41.2% of shares in Macedonia-based joint venture beverage company Pivara Skopje
November 10, 2011
– HEINEKEN N.V. announced today that it has reached agreement to acquire, together with Coca-Cola Hellenic, 41.2% of the shares in Pivara Skopje, their joint venture beverage company in the Former Yugoslav Republic of Macedonia (FYROM). The shares are currently owned by various minority shareholders. The total consideration for the transaction is EUR79.1 million, to be equally divided between HEINEKEN and Coca-Cola Hellenic.
The transaction is subject to approval by the FYROM competition authorities and is expected to be completed by early 2012. Following the closing of the transaction, HEINEKEN and Coca-Cola Hellenic will together own 96.5% of the shares in Pivara Skopje. The remaining 3.5% of the shares is largely owned by former and current employees of the company.
HEINEKEN and Coca-Cola Hellenic are fully committed to the future development of Pivara Skopje and will continue to work closely together with local distributors and customers to grow the business and local beverage market.
Pivara Skopje is the leading beverage company in the country - producing, marketing and distributing various beer and soft drink brands, most notably Skopsko and Coca-Cola. HEINEKEN and Coca-Cola Hellenic acquired their initial 55.3% stake in the company in 1998.
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HEINEKEN is one of the world's great brewers and is committed to growth and remaining independent. The brand that bears the founder's family name - Heineken - 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. The Company is present in over 70 countries and operates 140 breweries with volume of 205 million hectolitres of beer sold on a pro-forma basis.HEINEKEN is Europe's largest brewer and the world's third largest by volume. The Company is committed to the responsible marketing and consumption of its more than 200 international premium, regional, local and specialty beers and ciders. These include Heineken, Amstel, Birra Moretti, Cruzcampo, Dos Equis, Foster's, Kingfisher, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec.
On a 2010 pro-forma basis, including FEMSA Cerveza, revenue totalled EUR17 billion and EBIT (beia) was EUR2.7 billion. The average number of people employed is more than 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
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Source: HEINEKEN NV via Thomson Reuters ONE