Quilmes Industrial (Quinsa) S.A. Announces Resumption of the Asset Sale Process Resulting From Its 2003 Strategic Alliance With
April 04 2006 - 5:05PM
PR Newswire (US)
LUXEMBOURG, April 4 /PRNewswire-FirstCall/ -- Quilmes Industrial
(Quinsa) S.A. (NYSE:LQU) ("Quinsa" or the "Company") today
announced it has resumed the process by which it intends to sell
certain assets as required by Argentine regulations after approval
of its strategic alliance with AmBev. Approval of the AmBev deal by
Argentine regulators had been given under the condition that the
Company must dispose of certain assets within the following 12
months. This process had been halted pending the legal resolution
of an injunction introduced by a competitor who claimed the right
to bid for those assets. The Argentine Supreme Court of Justice has
now ruled against that position, thus confirming the original
conditions established by the Argentine Anti-Trust Commission
(Comision Nacional de Defensa de la Competencia -- "CNDC"). Quinsa
has resumed the process whereby it intends to dispose of the
necessary assets in order to comply with CNDC requirements. About
Quinsa Quinsa is a Luxembourg-based holding company that controls
93% of Quilmes International (Bermuda) ("QIB"). The remaining stake
is held 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 in Argentina, Bolivia, Chile,
Paraguay and Uruguay the AmBev brands. 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
both Argentina and Uruguay. 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 Depositary Shares, representing the
Company's B shares, are listed on the New York Stock Exchange
(NYSE:LQU). Quinsa's web address: http://www.quinsa.com/ . CONTACT:
Francis Cressall Quilmes Industrial (Quinsa) S.A.
+011-54-11-4349-1846 DATASOURCE: Quilmes Industrial (Quinsa) S.A.
CONTACT: Francis Cressall, Quinsa, +011-54-11-4349-1846 Web site:
http://www.quinsa.com/
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