E-Malt.com News article: 358

Heineken has launched a public bid for the Egyptian brewer and drinks company, Al Ahram Beverages Company (ABC). The Egyptian Capital Market Authority made this offer public with the condition that Heineken acquires at least 76% of the shares. The offer price is USD 14 per share, resulting in a total acquisition price of USD 287 million if 100% of the shares are offered to Heineken.

ABC is today the only Egyptian brewery group, with a beer volume of around 430,000 hectolitres. Its pilsner beer brand Stella is in Egypt almost synonymous with beer.

ABC is listed on both the Cairo and London Stock Exchanges. The company registered a net profit of USD 22.8 million in 2001, and USD 105 million of sales. Beer production accounted for 52% of the company's sales in 2001, while non-alcoholic malt beverages represented 29%. Some 11% of turnover came from spirits and 8% from soft drinks.


16 September, 2002