Quilmes Industrial (Quinsa) S.A. Announces Completion of Current Share Repurchase Program
August 01 2005 - 5:53PM
PR Newswire (US)
Quilmes Industrial (Quinsa) S.A. Announces Completion of Current
Share Repurchase Program LUXEMBOURG, August 1
/PRNewswire-FirstCall/ -- Quilmes Industrial (Quinsa) S.A.
(NYSE:LQU) (the "Company") today announced that it had fully
utilized the amount allocated by the Company's board of directors
for stock repurchases under the current stock repurchase program.
As previously disclosed, in March 2004, the Company announced that
its board of directors had authorized a stock buyback program
pursuant to which the Company might purchase up to US$50 million of
its shares. Consequently, unless and until the board of directors
decides to authorize additional stock repurchases, the Company will
not be seeking to acquire shares of its stock in open market
purchase transactions. ABOUT QUINSA Quinsa is a Luxembourg-based
holding company that controls 87.6 percent of Quilmes International
(Bermuda) ("QIB"). The remaining 12.4 percent stake is held by
Beverage Associates (BAC) Corp. ("BAC") and by Companhia de Bebidas
das Americas -- AmBev ("AmBev"). Quinsa, through QIB, controls
beverage and malting businesses in five Latin American countries.
Its beer brands are strong market leaders in Argentina, Bolivia,
Paraguay and Uruguay, and have a presence in Chile. Further,
pursuant to the Company's strategic alliance with AmBev, it has
entered into license and distribution agreements to produce and
sell the AmBev brands in Argentina, Bolivia, Paraguay and Uruguay.
Similarly, under the agreements, AmBev may produce and distribute
Quinsa's brands in Brazil. The Company also has bottling and
franchise agreements with PepsiCo, and thus accounts for 100% of
PepsiCo beverage sales in Uruguay and more than 80 percent of
PepsiCo beverage sales in Argentina. Quinsa's Class A and Class B
shares are listed on the Luxembourg Stock Exchange (Reuters codes:
QUIN.LU and QUINp.LU). Quinsa's American Depository Shares,
representing the Company's Class B shares, are listed on the New
York Stock Exchange (NYSE:LQU). Quinsa's Web address:
http://www.quinsa.com/ or http://www.quinsa.com.ar/ .
Forward-Looking Statements Except for historical information
contained herein, the statements in this release are
forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause the Company's actual results in future
periods to differ materially from forecasted results. Those risks
include, among others, changes in customers' demand for the
Company's products, changes in raw material, labor, equipment and
transportation costs and availability, changes in customer orders,
pricing actions by the Company's competitors, disagreements between
the Company's controlling shareholders and general changes in
economic conditions. Risks associated with forward-looking
statements are more fully described in the Company's filings with
the Securities and Exchange Commission. The Company assumes no duty
to update its outlook statements as of any future date. CONTACT:
Francis Cressall Quilmes Industrial (Quinsa) S.A.
+011-54-11-4349-1846 DATASOURCE: Quilmes Industrial (Quinsa) S.A.
CONTACT: Francis Cressall, Quilmes Industrial (Quinsa) S.A.,
+011-54-11-4349-1846 Web site: http://www.quinsa.com/
http://www.quinsa.com.ar/
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