E-Malt.com News article: 2764

Hungary: Netherlands’ brewing force, Heineken N/V continue to insist that its plans to buy Brau Union Hungaria will go ahead on schedule, in spite of suggestions that legal arguments may delay the transaction. A spokesman for the Dutch brewer announced on June 9 that the purchase would not be delayed. Heineken currently holds an 85% share in Brau Union Hungaria.

Media suggested on June 9 Heineken’s acquisition has been held up. Several shareholders of Brau Union Hungaria, including Hungarian investment fund Concorde Alapkezelo, have filed a complaint against Heineken's takeover bid with the company court, according to just-drink. It is still unknown when the court will consider the case, the spokesman for Heineken said.

Media reported on June 9 that Brau Union Hungaria has had all decisions made at its AGM suspended, according to local press reports. Napi Gazdasag claims that a company court in Hungary has ordered that all the decisions taken at April’s meeting be suspended, pending a legal complaint from fund manager Concorde Alapkezelo.

Heineken has spent the last 12 months trying to buy the brewer, but legal obstacles brought by Concorde and other small shareholders have held up the process.

Brau Union Hungaria has had all decisions made at its AGM suspended, according to local press reports. Napi Gazdasag claims that a company court in Hungary has ordered that all the decisions taken at April’s meeting be suspended, pending a legal complaint from fund manager Concorde Alapkezelo.

Heineken has spent the last 12 months trying to buy the brewer, but legal obstacles brought by Concorde and other small shareholders have held up the process.

Brau Union Hungaria's principal activity is the production and distribution of beer. Brand names include Soproni Aszok, Steffl, Gosser, Kaiser, Zipfer and the non-alcoholic brand, Schlossgold. The Company's export accounted for 1% in 2002. The company sold 7,431,400 hectolitres of beer in 2002.


10 June, 2004