Belgium, Brussels: InBev and SUN Trade (International) Ltd (“SUN Trade”) announced on January 10, 2005 amendments to the agreement between them announced on 12 August 2004 with regard to InBev’s purchase of SUN Trade’s holding of voting and non-voting shares in SUN Interbrew Ltd (Luxembourg: SUNAG) (“SUN Interbrew”).
The consideration to be received by SUN Trade has been altered by mutual agreement from 20,000,111 InBev shares (valued at €530 million based on InBev’s share price of €26.51 as of the close of market on 11 August 2004) to 12,500,001 InBev shares and a cash payment, based on the InBev average share price in the 25 trading days ending two business days prior to closing of the transaction, in respect of the 7,500,110 shares foregone. Following completion of the transaction, SUN Trade and its affiliates will hold approximately 2% of InBev’s enlarged issued share capital.
SUN Interbrew has today issued a press release announcing that it has called an EGM convening all holders of Class A (non-voting shares) in connection with InBev’s acquisition of SUN Trade’s and Alfa-Eco’s shares in SUN Interbrew.
Completion of the transactions with SUN Trade and Alfa-Eco is subject to the customary conditions and approvals. They are expected to close at the same point during the first quarter of 2005.
InBev is a publicly traded company (Euronext: INB) based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer by volume. InBev’s strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted acquisitions, and by putting consumers first. InBev has a portfolio of more than 200 brands, including Stella Artois®, Brahma®, Beck’s®, Leffe®, Hoegaarden®, Staropramen® and Bass®. InBev employs some 77,000 people, running operations in over 30 countries across the Americas, Europe and Asia Pacific. In 2003, InBev realized a net turnover of approximately 9.3 billion euro (2003 pro forma)
SUN Trade is an international investment group, active in building and investing in businesses in a variety of sectors around the world, including in India and the Russian Federation. SUN Trade is the founding shareholder of SUN Interbrew Ltd (formerly SUN Brewing Ltd), which it established in 1992 and built into the second largest brewing group in Russia.
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