HEINEKEN N.V. ANNUAL REPORT 2008 The S&N acquired entities are fully integrated in the Heineken regional structure and the former S&N head office has been dismantled. Goodwill on the acquisition of S&N has been allocated to the Western Europe and Americas region for the purpose of impairment testing in line with the operational responsibility. Goodwill in Western Europe and the Americas is monitored on a regional level. Synergies in the Western European market are expected to be achieved as result of a stronger presence in Western Europe enabling Heineken to secure its position and to increase its market share through appropriate commercial investments. Synergies in the Americas are expected to be achieved as a result of a stronger position in the USA, Canada and export to the Caribbean. For both regions, cost synergies are expected through more efficient central purchasing, sourcing and selling in respect of both the S&N and Heineken brands. The purchase price and the allocated fair values of assets and liabilities acquired have been determined on a provisional basis, because the final settlement with the consortium partner Carlsberg has not yet been completed and there remains uncertainty regarding certain positions such as the tax balances brought forward. The S&N acquired businesses have been included for eight months in the year ended 31 December 2008. The contribution to revenue amounted to €2,159 million and results from operating activities and share of profit of a sociates and joint ventures amounted to €62 million, excluding the impact of exceptional restructuring costs a id impairments - relating to the UK pub portfolio and the India investment- recognised in the eight-month p riod of €389 million. Amortisation of brands and customer relationships included, amounted to €49 million. E id the S&N acquired businesses been included as from 1 January 2008, management estimates that the p o-forma contribution to revenue would have amounted to €3,063 million and pro forma results from c ierating activities and share of profit of associates and joint ventures to €14 million, excluding the impact of e ceptional restructuring costs and impairments - relating to the UK pub portfolio and the India investment. nortisation of brands and customer relationships included, would have amounted to €73 million. This pro- f rma information does not purport to represent what our actual results would have been had the acquisition c tually occurred on 1 January 2008, nor are they necessarily indicative of future results of operations. In c termining the contributions, management has assumed that the fair value adjustments that arose on the c ite of the acquisitions would have been the same if the acquisitions had occurred on 1 January 2008. f :hhof acquisition 129 August 2008 Heineken acquired 96.54 per cent of the voting rights of the beverage division of Eichhof I jlding AG in Lucerne, Switzerland. After the completion of the tender offer a squeeze-out procedure was irted. As at balance sheet date Heineken owned 100 per cent. The consideration paid amounted to €192 r illion with a net cash outflow of €190 million.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 97