Heineken to steer Guinness Anchor Bhd after RM3.3bil deal

  • Business
  • Wednesday, 07 Oct 2015

Heineken expects to drive the investment and strategic direction of the operating companies in Malaysia and Jamaica. The Reuters photo shows a bottle of Heineken beer in ice.

KUALA LUMPUR: In a deal worth US$780.5mil (RM3.27bil), Heineken NV is taking strategic control of Guinness Anchor Bhd (GAB) and a Jamaica-listed beer company.

GAPL Pte Ltd, which is GAB's biggest shareholder with a 51% stake, has become a wholly owned subsidiary of the Dutch brewer.

GAB told Bursa Malaysia that Heineken, the world’s third-largest brewer, had acquired London-based Diageo plc’s stake in GAPL, which was slightly below 50%.

GAPL is also the licensee for Guinness and ABC Stout distribution for the Singapore market.

In addition, Heineken has taken control of Jamaica-listed Desnoes & Geddes by buying Diageo’s 57.9% shareholding in the company, which boosted its stake to 73.3%.

“As majority owner, Heineken will be able to drive the investment and strategic direction of the operating companies in Jamaica and Malaysia. The Caribbean and South-East Asia are strategically important for Heineken,” Heineken said in a media statement.

The transaction also involves Heineken selling its 20% ownership stake in Guinness Ghana Breweries Ltd to Diageo.

GAB shares closed at RM14.28 on Wednesday, up 30 sen.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

CPO futures may undergo technical correction next week
Blackstone-backed Patria eyes expansion in Latam, Asia
METALS: Tin, aluminium, copper prices down
Oil price falls on China's COVID-19 cases, high crude build
IBM, Intel slump weighs on Wall St as coronavirus concerns rise
GLOBAL MARKETS-Weak data, earnings drag stocks lower
Getting through tough times together
Keeping the economy moving with stimulus
How economic stimulus matters for countries
Short Position - Siletrra, AirAsia, ESG

Stories You'll Enjoy