Thursday April 10, 08:50 AM
Heineken offers 176 million euros for Swiss Eichhof drinks
AMSTERDAM (AFP) - Dutch global beer giant, Heineken (Amsterdam: HEIA.AS - news) said on Thursday that it wants to buy the beverage division of Swiss company Eichhof Holding (EIN.SW - news) for 176 million euros (278 million dollars) to strengthen its position on the Swiss market.
The move would strenghthen the Dutch bewers' number two position in the Swiss market with a combined estimated market share of 23 percent, Heineken said in a press release.
Heineken plans to organise the takeover through a demerger of Eichhof Holding which would result in a separate Eichhof Getraenke Holding company for the beverage division. Heineken would then buy this.
Every Eichhof Holding shareholder will receive one new share in the Getraenke Holding, Heineken said.
The purchase price is 278.5 million Swiss francs or 1.657 Swiss francs for every share of the Eichhof Getraenke Holding.
Heineken said it would launch its tender offer on May 7th and expected it to close in the third quarter of 2008.
The transaction is subject to approval by the Swiss competition authorities and Eichhof's shareholders have to approve the demerger of the beverage division.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
