Arab Today, arab today heineken family rebuffs hostile bid by rival sabmiller
Last Updated : GMT 02:07:27
Arab Today, arab today
Arab Today, arab today

Heineken family rebuffs hostile bid by rival SABMiller

Arab Today, arab today

Arab Today, arab today Heineken family rebuffs hostile bid by rival SABMiller

Visitors look at a photo of former director and grandson of the founder of the Heineken
The Hague - AFP

Heineken has rejected a takeover bid by British rival SABMiller after the family-controlled Dutch beer giant said it preferred to remain independent.
The hostile bid was itself aimed at protecting SABMiller, the world's second largest brewer, from a takeover by the world's number one, Belgium's AB InBev, analysts said.
The Heineken family, the majority shareholder, informed SABMiller "of its intention to preserve the heritage and identity of Heineken as an independent company", the Dutch brewer said in a statement late Sunday.
"The Heineken family and Heineken N.V.'s management are confident that the company will continue to deliver growth and shareholder value," the statement added.
Therefore the SABMiller bid, for an unspecified sum, was "non-actionable".
Heineken said it made the decision to announce the approach by SABMiller, and its rejection of the bid, due to rumours swirling around the markets.
"In this case the family has a controlling interest, and without their authorisation, nothing can happen," said Corne van Zeijl of Dutch asset management firm Actiam.
"They currently have nine billion euros in assets and I wonder whether the family are ready to abandon for a few billion more," he told Dutch BNR radio on Monday.
Tom Muller of Theodoor Gilissen private bank said there was no reason for the family to sell the brewer.
"Heineken is a sound business, solid enough to fight the competition around the world," Muller told AFP.
"Business is going well and there's no urgent reason to sell... The family already has plenty of money," he said.
- Defensive move -
SABMiller, with its Miller and Peroni brands, is the second-biggest brewer in the world, valued at around 70 billion euros ($90 billion).
Heineken is the third, valued at around 35 billion euros, thanks not only to its Heineken brand but also to sales of Amstel, Sol, Dos Equis and others.
Giant InBev is however valued at around 140 billion euros, Dutch daily Financieele Dagblad said.
"The big beer companies have made a lot of acquisitions over the last few years," said Van Zeijl.
"The reason SABMiller wants to buy Heineken is probably because InBev wanted to acquire SABMiller," he said.
InBev has spent around $100 billion acquiring brands including Corona and Budweiser over the last 10 years, the FD said.
Heineken has meanwhile gained market share in some important markets, citing Brazil, Nigeria, Vietnam, France and the Netherlands.
If it acquired Heineken, SABMiller would up its turnover by around 20 billion euros and have a bigger profile in emerging markets in Africa and Asia.
"Even if it's not to protect itself from InBev, such an offer makes market sense in order to lower costs and increase margins," said Joost van Dijck, another analyst with Theodoor Gilissen.
Shares in SABMiller shot up 5.42 percent on the London Stock Exchange on Monday morning.
"SABMiller is top of the table off the back of bid speculation," said Tony Cross, analyst with Trustnet.
"The company was reported as having failed to negotiate a merger with Heineken, so the concern now is that InBev could make a hostile bid."
Last month Heineken said that beer drinking during the World Cup football extravaganza raised sales volumes in the first half of the year but net profits fell to 631 million euros from 639 million euros at the same time last year.
However, overall, it said that it expected consumption of its brands to slow down during the rest of the year owing to a cloudy outlook for the economy.
The Dutch group produces and sells more than 200 brands of beer and cider and employs nearly 70,000 people around the world.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today heineken family rebuffs hostile bid by rival sabmiller Arab Today, arab today heineken family rebuffs hostile bid by rival sabmiller

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today heineken family rebuffs hostile bid by rival sabmiller Arab Today, arab today heineken family rebuffs hostile bid by rival sabmiller

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday