Heineken Acquires Remaining Globe Debt
Also lowers the value of its interests in pubs in the UK by €80m before taxation
Heineken has acquired the remaining syndicated bank debt of the Globe Group (Globe) in the UK at a discount to the €195m face value. Following the acquisition, Heineken will have acquired all of Globe’s syndicated bank debt with a face value of €256m and will no longer have any outstanding Globe debt on its balance sheet.
The company said that following the acquisition of Scottish & Newcastle on April 28, 2008, it has consolidated the assets and liabilities of Globe on its balance sheet. On October 29, 2009, the company revealed the repayment of A1 Notes of Globe after the acquisition of the Globe estate by EBP.
In order to reflect current fair value, the company has also lowered the value of its interests in pubs in the UK by €80m before taxation. The adjustment does not affect cash flow.
As a consequence of the total Globe debt restructuring and taking into account related costs, Heineken has realized an exceptional book gain of €215m before taxation, of which €84m before taxation has already been announced in the first half year of 2009. This has resulted in a reduction of net debt of €215m.
Related Insight
Suppliers Directory
Non-alcoholic Fruit Juice Energy & Sports Drinks Dairy Hot Drinks Soft Drinks Bottled Water
Technology Brewing Catering Equipment Packaging Process Technology
Markets & Regulations Markets Regulatory & Safety
Beer Intelligence
Until recently, the beverages market was divided simply between alcoholic and non-alcoholic beverages. As consumers’ tastes grew more sophisticated and demand surged for a variety of beverage options catering to lifestyle changes and health concerns, the beverages industry has responded with a dizzying array of options to choose from. This report focuses on the U.S. and world markets for beverages across several broad categories. For the purposes of this study, TriMark Publications has divided the global beverages markets into the following product segments include: 1) alcoholic beverages such as wines, beers and spirits; 2) non-alcoholic beverages such as bottled water and milk; 3) brewed beverages such as coffees and teas; 4) carbonated beverages such as sodas and soft drinks; 5) non-carbonated juice products both fresh and pre-packaged; and 6) energy drinks which are generally caffeinated beverages in both carbonated and non-carbonated forms. For each market segment, this study presents the latest information on size, growth rates, sales projections and factors influencing growth in the U.S. and internationally. Reports Buy online from $449
Comments may be moderated for spam, obscenities or defamation.