E-Malt.com News article: 2029

South Korea: Belgian brewing force, Interbrew, announced on January 7 that following the exercise of a put option, it paid 612 million euro for 100% control of Hops Cooperatieve U.A. (“Hops”). Hops holds 45% of the shares of Oriental Brewery, having acquired these shares from the Doosan Group. This transaction will have no impact on Interbrew’s EPS and confirms Interbrew’s commitment in South Korea to Oriental Brewery.

Interbrew, the world’s fourth largest brewer known for brands like Stella Artois and Beck’s, said the purchase had raised its stake in Oriental to 95%, with the balance 5% still held by Doosan, a local food and drinks maker.

With brands like OB Lager and Cass, Oriental controls about 42.5% of the South Korean beer market. The size of South Korean beer market is evaluated at 17 million hl. Per capita consumption in South Korea is of 36.5 litres.

Interbrew is a public company (INTB – Euronext) based in Brussels, Belgium. The company has a portfolio of more than 200 brands, run operations in 21 countries across the Americas, Europe and Asia Pacific and have strategic minority stakes in various brewers around the globe. In 2002 Interbrew realised a net turnover of close to 7 billion euro.

On 26 June, 2001 Interbrew announced that it entered into a put and call agreement relating to these shares pursuant to Doosan's decision to sell 45% of its shares in Oriental Brewery. “The transaction confirms Interbrew's commitment to its joint venture and to the Korean beer market and secures its future in Oriental Brewery,” Interbrew said on June 26, 2001.


13 January, 2004