LUXEMBOURG, Aug. 8 /PRNewswire-FirstCall/ -- Quilmes Industrial (Quinsa)
Societe Anonyme (NYSE: LQU) ("Quinsa") announced today the completion of the
transaction announced on April 13, 2006, between its two largest shareholders.
Under the terms of the transaction, Beverage Associates (BAC) Corp. ("BAC")
sold all of its remaining 34.46% economic interest to Companhia de Bebidas das
Americas -- AmBev ("AmBev") for a total purchase price of US$1.25 billion. As
a result of this transaction, AmBev now owns a 91.18% economic interest (which
represents a 97.16% voting interest) in Quinsa.
As a result of the closing, the shareholders agreement among Quinsa, AmBev
and BAC that provided for joint control of Quinsa and shared board
representation by BAC and AmBev was terminated. AmBev now has the voting power
to determine all matters requiring Quinsa shareholder approval, including the
power to select and elect all of Quinsa's directors, alone. The directors
previously elected upon the proposal of BAC have resigned as of the date
Quinsa is the largest brewer in Argentina, Bolivia, Paraguay and Uruguay,
having a share of the Chilean market as well. It also is the sole Pepsi
bottler in Argentina and Uruguay.
AmBev is the largest brewer in Brazil and in South America through its
beer brands Skol, Brahma, Antarctica. AmBev also produces and distributes its
own soft drink brands such as Guarana Antartica, and has franchise agreements
for Pepsi soft drinks, Gatorade and Lipton Ice Tea. AmBev has been present in
Argentina since 1993 through Brahma.
Quilmes Industrial (Quinsa) S.A.
SOURCE Quilmes Industrial (Quinsa) S.A.
Francis Cressall, Quilmes Industrial (Quinsa) S.A., +011-54-11-4349-1846
-0- Aug/08/2006 20:27 GMT
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