Quilmes Industrial S.A. (Quinsa) Receives Notice of an Increase of the Tender Offer Price
January 29 2008 - 5:17PM
PR Newswire (US)
LUXEMBOURG, Jan. 29 /PRNewswire-FirstCall/ -- Quilmes Industrial
Societe Anonyme ("Quinsa") announced today that Companhia de
Bebidas das Americas - AmBev ("AmBev") has issued a press release
announcing that, as of close of business on January 28, 2008,
6,277,001 Class B shares (including Class B shares held as ADSs) of
its subsidiary Quilmes Industrial (Quinsa), Societe Anonyme
("Quinsa"), representing 71.3% of the outstanding Class B shares of
Quinsa not owned by AmBev or its subsidiaries, had been tendered in
and not withdrawn from the voluntary offer made by AmBev, which
exceeds the threshold of 5,968,722 Class B shares (including Class
B shares held as ADSs) at which AmBev had agreed to increase the
tender offer price. Therefore, the tender offer price has been
increased to U.S.$4.125 per Class A share, U.S.$41.25 per Class B
share and U.S.$82.50 per ADS pursuant to the terms and conditions
of the Offer Documentation (as defined below). Further, AmBev has
announced that, in order to comply with applicable law, the offer
period has been extended until 5:00 p.m. NY time (11:00 p.m.
Luxembourg time) on February 11, 2008. All terms and conditions of
the offer and of the price increase are described in the Offer to
Purchase, which was filed with the U.S. Securities and Exchange
Commission (the "SEC") on December 28, 2007 and reviewed by the
Commission for the Supervision of the Financial Sector in
Luxembourg, and on the amendment thereto which AmBev has announced
they will file with the SEC on January 29, 2008. Shareholders of
Quinsa can obtain the Offer to Purchase and other documents that
were filed with the SEC (the "Offer Documentation") for free at
http://www.sec.gov/ and http://www.ambev-ir.com/. Quinsa has
delivered by mail copies of the recommendation of its Board of
Directors regarding the Offer to Quinsa shareholders. Additionally,
Quinsa has filed amendments to the Schedule 13E-3 and the Schedule
14D-9 with the SEC to supplement the disclosure in each schedule
and to announce AmBev's increase in the tender offer price and
extension of the offer period. All of these documents are available
at http://www.sec.gov/ and http://www.quinsa.com/ and may be
obtained free of charge at the registered office of Quinsa in
Luxembourg at the address referred to above. ABOUT QUINSA Quinsa is
a Luxembourg-based holding company that controls approximately 93%
of Quilmes International (Bermuda) ("QIB"). The remaining stake is
held by 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/ ABOUT
AMBEV AmBev is the largest brewer in Brazil and in South America
through its beer brands Skol, Brahma and Antarctica. AmBev also
produces and distributes soft drink brands such as Guarana
Antarctica, and has franchise agreements for Pepsi soft drinks,
Gatorade and Lipton Ice Tea. AmBev has been present in Argentina
since 1993 through Brahma. CONTACT: Guillermo Zuzenberg Quilmes
Industrial S.A. (Quinsa) +5411-4349-1846 DATASOURCE: Quilmes
Industrial Societe Anonyme CONTACT: Guillermo Zuzenberg, Quilmes
Industrial S.A. (Quinsa), +011-5411-4349-1846
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