Amsterdam, 21 December 2012 - Heineken N.V. ('HEINEKEN') today announced that HEINEKEN and Efes Breweries International N.V. ('EBI'), a wholly-owned subsidiary of Anadolu Efes, agreed to unwind their partnerships in Kazakhstan and Serbia:
· HEINEKEN will sell its 28% stake in Efes Kazakhstan to EBI; and
· HEINEKEN will acquire EBI's 28% stake in Central Europe Beverages ('CEB'), the holding company for the Serbian operations, thereby obtaining full ownership.
Selling the minority cross-holdings to each other will result in a consideration to be paid by EBI to HEINEKEN of US$161 million.
Each of the transactions announced today is anticipated to be completed no later than May 2013. The completion, which is subject to certain conditions, is expected to result in an exceptional book gain for HEINEKEN. The proceeds will support the company's financial objective to return to a net debt/EBITDA (beia )¹ ratio of below 2.5 times within 24 months of the closing of the APB transaction.
HEINEKEN holds a solid position in the Serbian beer market with a brand portfolio that includes the Heineken® brand, which is the leader in the international premium segment, the Amstel brand and the local brands PilsPlus, Zajecarsko, MB Pils and Master.
The Kazakh beer market offers attractive growth opportunities for the Heineken® brand in the international premium segment and HEINEKEN will continue to export the brand to the country.
The partnerships in Kazakhstan and Serbia were created in 2008, when HEINEKEN and EBI combined their operations in the two countries. Following a strategic review the decision has been taken to unwind the partnerships.
__________________________________________
¹) Before exceptional items and amortisation of brands.
Press enquiries
John Clarke
E-mail: john.g.clarke@heineken.com
Tel: +31-20-5239-355
John-Paul Schuirink
E-mail: john-paul.schuirink@heineken.com
Tel: +31-20-5239-355
Investor and analyst enquiries
George Toulantas
E-mail: investors@heineken.com
Tel: +31-20-5239-590
Lucia Bergamini
E-mail: investors@heineken.com
Tel: +31-20-5239-590
Editorial information:
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 160 breweries with volume of 214 million hectolitres of group beer sold. 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, Birra Moretti, 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. On a pro-forma 2011 basis, including APB, revenue totaled €18.5 billion and EBIT (beia) €3.0 billion. The number of people employed is around 78,000. Heineken N.V. and Heineken Holding N.V. shares are listed on the Amsterdam stock exchange. 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. Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.com.
