Royal Unibrew sells Solomon Breweries to APB

Post published:24/05/2011
Reading time:1 min(s) read

Royal Unibrew A/S has today received and accepted a conditional offer made to all shareholders of Solomon Breweries Ltd. by Asia Pacific Breweries Limited, Singapore. Asia Pacific Breweries Limited is listed in Singapore and is controlled by Heineken and Fraser & Neave. Royal Unibrew A/S holds approx 35% of the shares in Solomon Breweries Ltd.

The net cash proceeds of the transaction are estimated at approx DKK 30 million, corresponding to the carrying amount of the shares in the associated company. The transaction does not affect the previously announced outlook for 2011 for Royal Unibrew A/S as announced on 9. March 2011.

It is Royal Unibrew A/S’ objective to optimise capital resources by divesting non-strategic assets, and the shareholding in Solomon Breweries Ltd. is considered as such.

The transaction, which is subject to, inter alia, the relevant regulatory and foreign exchange approvals in the Solomon Islands, is expected to be closed before the end of August 2011.

Tags: Heineken, M&A in beer industry

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