E-Malt.com News article: 711

The US brewing combine, Anheuser-Busch, has announced its opposition to a planned CLP169 billion-dividend payment by the Chilean drinks group, Compania Cervecerias Unidas (CCU). A-B is the second largest shareholder in CCU with 20%. The extraordinary dividend was proposed on January 14. The same day Heineken announced it was to buy a participation in CCU currently owned by the German group, Schoerghuber Stiftung & Co.

"We don't think it's in the best interest of CCU or of all of its shareholders that the company assumes debt to pay an extraordinary dividend at this time," said Steven Burrows, president and chief executive officer of Anheuser-Bush International.

However, in January it was announced that Heineken is proposing to buy Schoerghuber Stiftung's stake at a premium without making a tender offer to other shareholders.


28 February, 2003