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InBev receives Luxembourg's approval on buyout of Quilmes shares

InBev receives Luxembourg's approval on buyout of Quilmes shares

Brewer InBev SA said Thursday that Luxembourg's financial authority approved the company's proposal to buy the shares of Argentinian subsidiary Quilmes Industrial it doesn't already own in a deal worth about US$313 million (euro240.7 million).
The offer by the maker of beers such as Stella Artois involves the purchase of about 6.9 million class A shares and up to 8.7 class B shares, InBev said in a statement. The company will pay US$3.35 (euro2.57) per class A share and US$33.53 (euro25.78) per class B share. The offer expires Feb. 28, unless extended.
Quilmes is the Argentinian brewer of the beer of the same name.
InBev shares gained 0.4 percent to euro49.39 (US$64.23) on Euronext.


Updated : 2020-12-05 17:01 GMT+08:00