Notes to the consolidated financial statements
130 Financial statements
36. Subsequent events
Acquisition of Tango Sari
On 14 January 2008, Heineken announced and completed the acquisition of Tango Sari in Algeria.
Heineken acquired 100% of the shares from the Group Mehri. The transaction has been funded from
existing cash resources. Due to the competitive sensitivity and the non-disclosure agreements with the
parties involved, the acquisition price is not disclosed.
Based on the timing of this acquisition and the local timing of the year-end closing and the subsequent
IFRS changes involved, it is considered impracticable to disclose the information required accordinq
to IFRS 3.67.
Tango Sari employs 350 employees and operates a modern brewing facility in Algiers. The brewery has
been operational since 2001 and has a production capacity of 750,000 hectolitres. The brand portfolio
consists of the leading national mainstream beer brand Tango, and two brands in the economy segment,
Samba and Fiesta.
Acquisition of Rodic
In December 2007, Heineken announced the acquisition of the Rodic Brewery, in Novi Sad, Serbia.
On 12 February 2008 this acquisition was completed by way of acquiring 100% of the shares. Heineken
aims to combine its operations in Serbia with the operations of Efes Breweries International.
Based on the timing of this acquisition and the local timing of the year-end closing and the subsequent
IFRS changes involved, it is considered impracticable to disclose the information required according to
IFRS 3.67.
The Rodic Brewery was established in 2003 and employs 282 employees. The Rodic Brewery facility is
a state-of-the-art, 1.5 million hectolitre brewery, located in Novi Sad, northern Serbia. The company's
portfolio consists of the beer brands MB Premium, MB Pils and Master.
Announcement of joint venture with Efes Breweries
On 28 January 2008, Heineken announced the establishment of a joint venture with Efes Breweries
International to invest in the Uzbek beer market through the acquisition of breweries. Under the terms
of the agreement, Heineken and Efes Breweries International will hold 40% and 60% of the shares in the
joint venture, respectively, with Efes Breweries International responsible for operational management.
In addition, Heineken and Efes Breweries International have also announced that they intend to combine
their operations in the Kazakh and Serbian beer markets. Both of these transactions are subject to the
customary regulatory approvals and are expected to be completed in the first half of 2008.
Heineken N.V. Annual Report 2007
