Heineken (HEINY) has agreed to buy the Brazilian assets of Japanese Brewer Kirin (KNBWY) as the Dutch group seeks to compete with AB InBEV (BUD).
Dutch brewer Heineken the now loss-making Brazilian breweries of Japanese brewer Kirin Holdings, Heineken announced in a press release on Monday.
With the acquisition, HEINEKEN will become the second largest beer company in Brazil.
Heineken will pay Kirin Holdings $700m for the business which includes 12 breweries and a distribution network.
Kirin said that Brazil's economic risks and a stagnant and competitive beer and soft drink market meant there were "limitations" to making Brasil Kirin profitable.
It owns an extensive portfolio of beer brands and its share of the Brazilian beer market in 2015 was around 9%.
Heineken expects that the transaction provide significant cost synergies, through production efficiencies including logistics, brewery optimisation and optimisation of selling, general and administrative expenditures.
The Dutch beer-maker says that the Brazilian beer market is highly attractive with its growing population and positive GDP outlook.
The acquisition, dependent on approval by Brazil's antitrust agency, is expected to close in the first half of the year. Kirin said the unit made an operating loss of 284 million reais in 2016.
Heineken said the deal will transform its existing business across the country by extending its footprint, increasing scale and further strengthening its brand portfolio. "I look forward to welcoming our new colleagues from Brasil Kirin into HEINEKEN and working with them to take the combined business forward".
MS quarterback Myles Brennan is set to arrive over the summer, giving the Tigers five scholarship quarterbacks on the roster. Danny Etling was LSU's quarterback for the remainder of the season after taking over in-game against Jacksonville State.
The share price is now 5.46 percent versus its SMA20, -11.4 percent versus its SMA50, and -18.42 percent versus its SMA200. Important factors to focus when evaluating a stock's present and future value are the 52 week price high and low levels.
Incidentally, there are also reports that Apple has plans to release a pair of augmented reality powered smart glasses by 2018. Its increase helped balloon the S&P 500's market capitalization on Monday beyond $20 trillion for the first time.
Although Musk argues for a "merger of biological intelligence and digital intelligence", he is incredibly wary of "deep AI". He claims that within 20 years, up to 15% of the world's workforce will be rendered redundant by artificial intelligence.
Mary raised Tom and his siblings in Kentucky after moving there from NY after her divorce from Tom's dad, Thomas. It was just an incredible experience to see what we felt was a lot of talent coming forth all of a sudden.
Jerry Brown that the void in the Oroville Dam could cost $100 million to $200 million to fix , The Sacramento Bee reports . An evacuation center has been established for Oroville residents at the Silver Dollar Fairgrounds in Chico.
Trump is scheduled to later call Jacob Zuma , President of South Africa to also wish him the same (Happy Africa Day). Presidential spokesman, Femi Adesina , has issued a statement to confirm the development.
Those of us who believe in public education have an obligation to be open and honest about the progress our schools are making. The unions' line on DeVos, during the debate on her nomination, was: Defeat the nomination or watch public education disappear.
Occidental Petroleum Corporation's growth estimate for the current quarter is 132.1, and 250 percent for the next quarter. The oil and gas segment explores for develops and produces oil and condensate natural gas liquids (NGL) and natural gas.