Report of the
Report of the
On 19 December 2012 the European Court of Justice in Luxembourg confirmed the fine imposed on HEINEKEN for their participation in a cartel on
the Dutch market from 1996 to 1999. This judgement is not subject to appeal. The fine was paid in 2007 and was treated as an expense in the 2007
As part of the acquisition of the beer operations of FEMSA, H EINEKEN also inherited existing legal proceedings with labour unions, tax authorities and
other parties of its. now wholly-owned, subsidiaries Cervejarias Kaiser and Cervejarias Kaiser Nordeste (jointly, Heineken Brasil). The proceedings have
arisen in the ordinary course of business and are common in the current economic and legal environment of Brazil. The proceedings have partly been
provided for, see note 30. The contingent amount being claimed against Heineken Brasil resulting from such proceedings as at 31 December 2012 is
EUR663 million. Such contingencies were classified by legal counsel as less than probable but more than remote of being settled against Heineken Brasil.
However, HEINEKEN believes that the ultimate resolution of such legal proceedings will not have a material adverse effect on its consolidated financial
position or result of operations. HEINEKEN does not expect any significant liability to arise from these contingencies. A significant part of the aforementioned
contingencies (EUR367 million) are tax related and qualify for indemnification by FEMSA, see note 17.
As is customary in Brazil, Heineken Brasil has been requested by the tax authorities to collateralise tax contingencies currently in litigation amounting
to EUR292 million by either pledging fixed assets or entering into available lines of credit which cover such contingencies.
In millions of EUR
Guarantees to banks for loans (to third parties)
Less than More than
Total 20121 year1-5 years5 years To La I 2011
300 194 95 11
358 63 5 290
658 257 100 301 711
Guarantees to banks for loans relate to loans to customers, which are given to external parties in the ordinary course of business of HEINEKEN.
HEINEKEN provides guarantees to the banks to cover the risk related to these loans.
Heineken N.V. Annual Report 2012