AmBev Announces the Increase of the Tender Offer Price for Quinsa Shares
January 28 2008 - 10:06PM
PR Newswire (US)
SAO PAULO, Brazil, Jan. 28 /PRNewswire-FirstCall/ -- Companhia de
Bebidas das Americas - AmBev ("AmBev") (BOVESPA: AMBV4, AMBV3; and
NYSE: ABV, ABVc) announced that, as of close of business on January
28, 2008, 6,277,001 Class B shares (including Class B shares held
as ADSs) of its subsidiary Quilmes Industrial (Quinsa), Societe
Anonyme ("Quinsa"), representing 71.3% of the outstanding Class B
shares of Quinsa not owned by AmBev or its subsidiaries, had been
tendered in and not withdrawn from the voluntary offer made by
AmBev, which exceeds the threshold of 5,968,722 Class B shares
(including Class B shares held as ADSs) at which AmBev agreed to
increase the tender offer price. Therefore, the tender offer price
has been increased to U.S.$4.125 per Class A share, U.S.$41.25 per
Class B share and U.S.$82.50 per ADS pursuant to the terms and
conditions of the Offer to Purchase (as defined below). Further, in
order to comply with applicable law, the offer period has been
extended until 5:00 p.m. NY time (11:00 p.m. Luxembourg time) on
February 11, 2008. All terms and conditions of the offer and of the
price increase are described in the Offer to Purchase, which was
filed with the U.S. Securities and Exchange Commission (the "SEC")
on December 28, 2007, and on its amendment which will be filed with
the SEC on January 29, 2008. Shareholders of Quinsa can obtain the
Offer to Purchase and other documents that were filed with the SEC
(the "Offer Documentation") for free at http://www.sec.gov/ and
http://www.ambev-ir.com/. The Offer Documentation was mailed to
Quinsa shareholders by Innisfree M&A Incorporated. Requests for
the Offer Documentation may be directed to Innisfree M&A
Incorporated at +1 877 750 9501 (toll free in the U.S. and Canada)
or at +00 800 7710 9970 (freephone in the EU), or in writing at 501
Madison Avenue, 20th floor, New York, NY, 10022, U.S.A. Questions
regarding the offer may be directed to Credit Suisse Securities
(USA) LLC at +1 800 318 8219 (toll free in the U.S.). Disclaimers
No communication or information relating to the proposed offer for
the Class A shares and Class B shares of Quinsa (including Class B
shares held as ADSs) not already held by AmBev's subsidiaries may
be distributed to the public in any jurisdiction in which a
registration or approval requirement applies other than the United
States of America or Luxembourg. No action has been (or will be)
taken in any jurisdiction where such action would be required
outside of the United States of America and Luxembourg in order to
permit a public offer. The offer and the acceptance of the offer
may be subject to legal restrictions in certain jurisdictions.
AmBev does not assume responsibility for any violation of such
restrictions by any person. Our investor web site has additional
Company financial and operating information, as well as transcripts
of conference calls. Investors may also register to automatically
receive press releases by email and be notified of Company
presentations and events. Statements contained in this press
release may contain information that is forward-looking and
reflects management's current view and estimates of future economic
circumstances, industry conditions, Company performance, and
financial results. Any statements, expectations, capabilities,
plans and assumptions contained in this press release that do not
describe historical facts, such as statements regarding the
declaration or payment of dividends, the direction of future
operations, the implementation of principal operating and financing
strategies and capital expenditure plans, the factors or trends
affecting financial condition, liquidity or results of operations,
and the implementation of the measures required under AmBev's
performance agreement entered into with the Brazilian Antitrust
Authority (Conselho Administrativo de Defesa Economica - CADE) are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. There is no guarantee that these results
will actually occur. The statements are based on many assumptions
and factors, including general economic and market conditions,
industry conditions, and operating factors. Any changes in such
assumptions or factors could cause actual results to differ
materially from current expectations. DATASOURCE: Companhia de
Bebidas das Americas - AmBev CONTACT: Michael Findlay,
+55-11-2122-1415, or Isabella Amui, +55-11-2122-1414, , both of
Companhia de Bebidas das Americas - AmBev Web site:
http://www.ambev-ir.com/
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