Heineken N.V. to divest minority stake in Dominican Republic Brewery CND
Posted: 16 April 2012 | Heineken | No comments yet
HEINEKEN will sell its 9.3% minority shareholding in CND in the Dominican Republic for US$ 237 million…
Heineken N.V. (‘HEINEKEN’) today announced that it will sell its 9.3% minority shareholding in Cervecería Nacional Dominicana S.A. (‘CND’) in the Dominican Republic for US$ 237 million, ultimately to AmBev Brasil Bebidas S.A. (‘AmBev Brasil’), a closely-held subsidiary of Companhia de Bebidas das Américas – AmBev.
Through this transaction, HEINEKEN monetises its minority investment at an attractive valuation, in line with the price to be paid by AmBev Brasil for the acquisition of a 41.76% stake in CND from the controlling family of the Dominican brewer.
Closing of the transaction is expected to take place in the second quarter of 2012 and subsequently HEINEKEN expects to realise a post-tax exceptional book gain of approximately EUR 130 million.