July 05, 2011

Asahi Breweries To Tender Offer For NZ beverage Maker

Asahi Group Holding., formerly known as Asahi Breweries Ltd., announced that it will conduct a tender offer for Charlie's Group Ltd., a manufacturer and marketer for premium beverage brands in New Zealand. Charlie's board of directors has recommended that shareholders accept the offer. The TOB price is NZ$ 0.44 per share, a 54% premium to the 3-month VWAP. The acquisition of Charlie's will further strengthen Asahi's overseas beverages business and provide an entry into the New Zealand market.

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