HEINEKEN NV : HEINEKEN and Efes unwind their partnerships in Kazakhstan and
Amsterdam, 21 December 2012 - Heineken N.V. ('HEINEKEN') today announced
that HEINEKEN and Efes Breweries International N.V. ('EBI'), a wholly-owned
subsidiary of Anadolu Efes, agreed to unwind their partnerships in
Kazakhstan and Serbia:
· HEINEKEN will sell its 28% stake in Efes Kazakhstan to EBI; and
· HEINEKEN will acquire EBI's 28% stake in Central Europe Beverages
('CEB'), the holding company for the Serbian operations, thereby obtaining
Selling the minority cross-holdings to each other will result in a
consideration to be paid by EBI to HEINEKEN of US$161 million.
Each of the transactions announced today is anticipated to be completed no
later than May 2013. The completion, which is subject to certain conditions,
is expected to result in an exceptional book gain for HEINEKEN. The proceeds
will support the company's financial objective to return to a net
debt/EBITDA (beia )¹ ratio of below 2.5 times within 24 months of the
closing of the APB transaction.
HEINEKEN holds a solid position in the Serbian beer market with a brand
portfolio that includes the Heineken® brand, which is the leader in the
international premium segment, the Amstel brand and the local brands
PilsPlus, Zajecarsko, MB Pils and Master.
The Kazakh beer market offers attractive growth opportunities for the
Heineken® brand in the international premium segment and HEINEKEN will
continue to export the brand to the country.
The partnerships in Kazakhstan and Serbia were created in 2008, when
HEINEKEN and EBI combined their operations in the two countries. Following a
strategic review the decision has been taken to unwind the partnerships.
¹) Before exceptional items and amortisation of brands.
Investor and analyst enquiries
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® - 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® and with a full brand
portfolio in markets of choice. The Company is present in over 70 countries
and operates more than 160 breweries with volume of 214 million hectolitres of
group beer sold. HEINEKEN is Europe's largest brewer and the world's third
largest by volume. HEINEKEN is committed to the responsible marketing and
consumption of its more than 250 international premium, regional, local and
specialty beers and ciders. These include Heineken®, Amstel, Anchor, Biere
Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's,
Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate,
Tiger and Zywiec. Our leading joint venture brands include Cristal and
Kingfisher. On a pro-forma 2011 basis, including APB, revenue totaled €18.5
billion and EBIT (beia) €3.0 billion. The number of people employed is around
78,000. 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
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