InBev (Euronext: INB) and SUN Trade (International) Ltd (“SUN Trade”) announce today amendments to the agreement between them announced on 12 August 2004 with regard to InBev’s purchase of SUN Trade’s holding of voting and non-voting shares in SUN Interbrew Ltd (Luxembourg: SUNAG) (“SUN Interbrew”).
The consideration to be received by SUN Trade has been altered by mutual agreement from 20,000,111 InBev shares (valued at €530 million based on InBev’s share price of €26.51 as of the close of market on 11 August 2004) to 12,500,001 InBev shares and a cash payment, based on the InBev average share price in the 25 trading days ending two business days prior to closing of the transaction, in respect of the 7,500,110 shares foregone. Following completion of the transaction, SUN Trade and its affiliates will hold approximately 2% of InBev’s enlarged issued share capital.
SUN Interbrew has today issued a press release announcing that it has called an EGM convening all holders of Class A (non-voting shares) in connection with InBev’s acquisition of SUN Trade’s and Alfa-Eco’s shares in SUN Interbrew.
Completion of the transactions with SUN Trade and Alfa-Eco is subject to the customary conditions and approvals. They are expected to close at the same point during the first quarter of 2005.
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