Sale of Royal Unibrew's Caribbean breweries finalised
Sale of Royal Unibrew's Caribbean breweries finalised
February 24, 2010 at 12:00 AM EST
fond-ru-06-2010-uk.pdf 139.9 KB
As stated in our Company announcement no. 23/2009 of 12 August 2009, Royal Unibrew entered into a conditional agreement with the brewery Cerveceria Nacional Dominicana (CND) regarding the sale of Royal Unibrew's shares in the breweries on Antigua (including a soft drinks factory), Dominica and St. Vincent to CND. This sale has been finalised today cf. also Company announcement 4/2010 of 12 February 2010. As previously announced, the transaction reduces Royal Unibrew's interest-bearing debt by almost DKK 200 million. The net selling price for the shares is in line with their book value. The sale will reduce the Company's revenue by approximately DKK 150 million and its EBITDA by about DKK 30 million on a yearly basis. In 2010, the reduction of revenue is expected to amount to approximately DKK 130 million, while EBITDA is estimated to be reduced by DKK 25 million. The divested breweries will continue to produce and sell Royal Unibrew's premium brand within malt drinks, “Vitamalt”, on license and a license agreement has been entered into with CND for the production and sale of Vitamalt in the Dominican Republic. Please direct any questions to the undersigned on phone no. +45 56 77 15 13. Royal Unibrew A/S Henrik Brandt Chief Executive Officer