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.
The prognosis for 12-year-old Kanari Gentry-Bowers is bleak, her family said Sunday, and they're asking for prayers and support. Chicago Police said the shooting took place on the 1900 block of W. 57th street at approximately 7:10 p.m. (8:10 p.m.
Prices for final demand less foods, energy, and trade services rose 0.2% in January after inching up 0.1% in December. Those costs feed into the Fed's preferred inflation measure, the core personal consumption expenditures (PCE) index.
We can only hope that Chance will maintain his stride, sticking to his guns and pursuing even more accolades as time passes. Adele won all five gramophones she was nominated for, including the big ones: Album, Record and Song Of The Year .
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.
But on September 1, 2016, a Falcon 9 rocket exploded on the pad during preflight fueling and the site was badly damaged. The launch pad was originally built in the 1960s to hold the Saturn V and later modified to launch the shuttle.
Private consumption is projected to continue growing robustly, supported by favourable labour market developments. This is still "short" of the ECB's target of an inflation "below, but close to 2 percent", the Commission said.