Heineken moves to take full control of Jamaican brewer
THE HAGUE - Dutch beer giant Heineken announced late on Friday it was moving to buy up all outstanding shares of Jamaican brewer Desnoes & Geddes to gain 100% control of the company.
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The move comes after Heineken last month acquired the 57.9% stake in the company that had been owned by Diageo, the world's largest distiller.
Amsterdam-based Heineken now holds some 73.3% of the Jamaican company, which produces Red Stripe and Dragon beers.
It is offering to snap up the remaining ordinary shares at about 30 US cents each, in a tender that is open until 22 December.
That is the same price the Dutch company paid last month to extend its stake in D&G.
The offer is being made via Heineken Sweden AB, a wholly-owned subsidiary of Europe's largest and the world's third-largest brewer.
Source: AFP