AmBev Raises Stake in Quinsa to 97.16%
August 08 2006 - 5:27PM
PR Newswire (US)
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 hereof. The
Companies 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. 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.quilmes.com.ar/
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