AmBev Acquires Shares of Quilmes International - Bermuda - Ltd.Business Editors SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--Jan. 14, 2003 Companhia de Bebidas das Americas - AmBev (NYSE NYSE See: New York Stock Exchange : ABV ABV Above ABV Alcohol By Volume ABV Abuja, Nigeria (airport code) ABV Assault Breacher Vehicle ABV Accredited Business Valuation specialist ABV Auxiliary Building Ventilation ABV Annual Buy Value ABV Air Bleed Valve , ABVc)(BOVESPA See Bolsa de Valores de Sao Paulo. : AMBV4, AMBV3), the world's fifth largest brewer and Brazil's leading beverage company, today announced that Beverage Associates Corp. ("BAC BAC abbr. blood alcohol concentration ") will purchase from Heineken all the shares of Quilmes International (Bermuda) Ltd ("QIB") held by Heineken, which represents currently 15% of the outstanding QIB shares. BAC, in turn, assigned to AmBev and AmBev has agreed to acquire approximately 8.6% of the QIB shares for an aggregate amount of US$58.5 million. The settlement agreement further provides that Quinsa will have the right to purchase the QIB shares held by BAC and AmBev, in whole or in part, based on the fair market value to be determined by an independent investment bank. Following these recent announcements, AmBev expects to proceed promptly to complete the transaction and to realize the synergies and further benefits that the Alliance is expected to generate. |
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