Brazilian: Molson Coors to be in talks for Brazilian Cervejarias Kaiser
Chief Executive Officer of Molson Coors Brewing, Leo Kiely announced on December 14 that the world's fifth-largest beer maker continues to have "discussions" with possible buyers for its money-losing Brazilian unit, Cervejarias Kaiser, according to media reports.
"We've been in discussions now with a few key players, talking about our strategic options," Kiely, 58, said today in an interview in Calgary, Alberta, where he's meeting with customers.
The company has said it may sell all or part of Kaiser after the unit lost sales to Cia. de Bebidas das Americas, the Brazilian unit of No. 2 brewer InBev NV. Heineken NV may bid for an additional stake in the brewer, Brazil's Valor Economico newspaper reported Nov. 4. Heineken controls 20 % of Kaiser and Molson Coors the rest.
"We'd like to stay in Brazil, if we can find a winning way to do it," Kiely said. Heineken is competing against Fomento Economico Mexicano SA of Mexico for Kaiser, the newspaper said. Cervejarias Kaiser posted a loss before income taxes of $24 million, Denver- and Montreal-based Molson Coors said last month.
Kiely didn't identify the companies with which Molson Coors has had talks. "We continue to believe Femsa and Heineken will be the most likely bidders for Kaiser," UBS Securities analyst Caroline Levy said in a Nov. 27 report.
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