1 CALAN DA BRAU Heineken acquires interests in Switzerland and Poland With participations in Switzerland and Poland, Ileineken shows that its expansion plans are not aimed only at Asia. These participations are consistent with Heineken's strategy to huild up a dominant position in its home market (Europe). In mid-December 1993, Ileineken announced that it had acquired 52.3% of the voting shares in the Swiss brewing company Haldengut, which controls, directly and through Calanda Brau, the second largest brewing group, Calanda Haldengut. In addition to beer, Haldengut also has interests in mineral water and soft drinks. Calanda Haldengut, which was created by merging Haldengut and Calanda in 1991, has secured a 12% market share in the Swiss beer mar ket with the local brands Calanda and Haldengut. The brewery, in which Heineken took a 10% stake in 1987, has in recent years distributed Heineken beer brewed in the Nether lands, in the German-speaking part of Switzerland. With its market share of 25%, Heineken is market leader in the import segment, which accounts for 4% of the total beer market. OfTer After the completion of the due diligence investigation (which deter mines the value of the company), the price per share for the 52.5% block of voting shares was set at 1,022 Swiss francs. To acquire these shares, Heineken had to invest a total of 40 million Dutch guilders. At the end of February 1994, Heineken made an offer to Calanda llaldengut's minority shareholders. This had been the intention all along. But the bid could not be made until the results of the diligence investi gation were known. By making this offer, the minority shareholders were given the choice between continued participation in the company or sell ing their shares at a good price. In April it was announced that, as a result of the public offer, Heineken had increased its shareholding in Calanda Haldengut to 93%. The total investment for Heineken amounts to some 125 million guilders. The Calanda brewery in Switzerland. THE WORLD OF HEINEKEN

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World of Heineken | 1994 | | pagina 26