Heineken spells out gains from APB full purchase
BRUSSELS (Reuters) - Dutch brewer Heineken (HEIN.AS) said on Friday its acquisition of the rest of Asia Pacific Breweries would boost its earnings per share slightly in the first year and yield 25 million euros ($33.5 million) of synergy benefits this year and next.
Heineken, the world's third largest brewer by volume, took full control of the maker of Tiger beer in a S$7.9 billion ($6.4 billion) deal last year, principally by buying out its partner, Singapore conglomerate Fraser & Neave (FRNM.SI).
Heineken said it had revalued its previously held equity interest in the acquired businesses, resulting in a pre-tax exceptional gain of 1.5 billion euros, which would be booked in 2012 results.
However, the purchase of the 4.7 percent share in APB after Nov 15, 2012, would also result in negative impact on equity of 246 million euros, of which 151 million euros would be reflected in Heineken's 2012 balance sheet.
Heineken will publish its 2012 results next Wednesday (Feb 13).
Asia Pacific Breweries (APB) was formed in 1931 as a joint venture between Heineken and Fraser & Neave. Heineken's S$53 per share offer, including F&N's direct and indirect stakes, has resulted in it owning 99.6 percent of the Asian brewer.
APB shares are due to be delisted on February 18. ($1 = 0.7469 euros) ($1 = 1.2393 Singapore dollars)
(Reporting by Philip Blenkinsop; editing by Barbara Lewis)
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