AMSTERDAM, Netherlands, May 12, 2014 (GLOBE NEWSWIRE) — Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) announced today that, subject to the customary regulatory and other approvals, its majority owned subsidiaries Nigerian Breweries plcand Consolidated Breweries plc have confirmed their intent to merge the two businesses. To this end, a pre-merger notification has been filed with the Nigerian Securities and Exchange Commission on behalf of both Nigerian Breweries plc and Consolidated Breweries plc.
The proposed merger is based on a significant and compelling strategic rationale and will enable the combined business to fully capitalise on the future growth potential of the highly attractive Nigerian beer and malt drinks market. The transaction is expected to:
- Create value for all key stakeholders, particularly shareholders
- Drive benefits from increased economies of scale
- Enhance operating and administrative efficiencies
- Increase the new company’s speed and agility in response to market developments
Africa is one of the world’s most attractive and fastest growing regions for beer, and is a key platform for HEINEKEN’s continued investment and future growth. Nigeria is the continent’s largest economy, with a significant, growing beer and malt drinks market, underpinned by favourable demographics:
- An expanding population of almost 180 million people, of whom more than 70% are under the age of 30
- Increasing levels of urbanisation
- A rapidly developing middle class supported by rising income levels
Regulatory and other approvals are expected to take several months, and until these have been obtained both businesses will continue to operate as usual. It is intended that Nigerian Breweries plc as the remaining legal entity will remain listed on the Nigerian Stock Exchange after the completion of the merger.
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Facts & figures
Heineken N.V. holds 54.1% of the shares in Nigerian Breweries plc and 53.8% of the shares in Consolidated Breweries plc.
- 8 breweries; Lagos, Aba, Kakuri, Ibadan, Ama, Ota, Kudenda, Onitsha
- 2 Malting plants: Aba Malting Plant &Kudenda Malting Plant
- Head office/Brewery: Lagos
- 4000 FTE
- Beer brands include: Heineken®, Star, Gulder, Legend, Life, Goldberg,
- Malt brands include: Amstel Malta, Fayrouz, Malta Gold, Maltina
- 3 Breweries:Ijebu-Ode, Awo-Omamma, Makurdi
- Head office:Lagos
- 1500 FTE
- Beer brands include: “33″ Export, Turbo King, Williams Dark Ale
- Malt brands include: Hi-Malt, Maltex
HEINEKEN is a proud, independent global brewer committed to surprise and excite consumers with its brands and products everywhere. The brand that bears the founder’s family name – Heineken® – is available in almost every country on the globe and is the world’s most valuable international premium beer brand. The Company’s aim is to be a leading brewer in each of the markets in which it operates and to have the world’s most valuable brand portfolio. HEINEKEN wants to win in all markets with Heineken® and with a full brand portfolio in markets of choice. The Company is present in over 70 countries and operates more than 165 breweries. HEINEKEN is Europe’s largest brewer and the world’s third largest by volume. HEINEKEN is committed to the responsible marketing and consumption of its more than 250 international premium, regional, local and specialty beers and ciders. These include Heineken®, Amstel, Anchor, Biere Larue, Bintang, BirraMoretti, Cruzcampo, Desperados, Dos Equis, Foster’s, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec. Our leading joint venture brands include Cristal and Kingfisher. The number of people employed is over 85,000. Heineken N.V. and Heineken Holding N.V. shares are listed on the NYSE Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter Equities 2000 Service under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY).
Most recent information is available on HEINEKEN’s website: www.theHEINEKENcompany.com.