Heineken moves to take full control of Jamaican brewer
THE HAGUE, Netherlands (AFP) — Dutch beer giant Heineken announced late Friday it was moving to buy up all outstanding shares of Jamaican brewer Desnoes & Geddes to gain 100 percent control of the company.
The move comes after Heineken last month acquired the 57.9-per cent stake in the company that had been owned by Diageo, the world’s largest distiller.
Amsterdam-based Heineken now holds some 73.3 per cent of the Jamaican company, which produces Red Stripe Beer and Dragon — the local stout brand that competes alongside Guinness.
It is offering to snap up the remaining ordinary shares at about 30 US cents each, in a tender that is open until December 22.
That is the same price the Dutch company paid last month to extend its stake in D&G.
The offer is being made via Heineken Sweden AB, a wholly-owned subsidiary of Europe’s largest and the world’s third-largest brewer.
