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M&A-Henieken and APB
- 1. Heineken Acquired Fraser and Neave’s Stake in Asia Pacific Breweries Source:-Reuters Date:-3-8-2012
- 2. Deal Overview • Dutch Company acquired F&N Stakes in APB for 4.1 billion US dollars • Deal is strategically important for Heineken for its Pan-Asia footprints • Heineken own 9.5% stake directly in APB and 65% jointly with F&N ,effective share is 42% • Type :-Horizontal • Heineken offered S$50 per share • Goldman Sachs is advising F&N while Credit Suisse is advising F&N
- 3. World Beer Market • Global Beer consumption was 210 bn liters in 2011 • Top four are Anheuser Busch InBev, SABMiller, Heineken, Carlsberg • Top four brewery accounts for more than 50% of production • This is due to M&A rather than organic growth • Since 1997 the four companies have made a total of 57 acquisitions amounting to 82 billion EURO
- 4. Market Share of big 4 breweries Company Market Share(%)(2010) Anheuser Busch 23.5 InBev SABMiller 12.5 Heineken 7.5% Carlsberg 6.7% M&A as a Driver of Global Competition in the Brewing Industry Acquiring Target Combined Company Company INBev Anheuser Anheuser Busch Busch InBev Miller South Africa SABMiller Breweries
- 5. Year AB InBev SABMiller Heineken Carlsberg Total 1997 M&A in Beer Industry 152 152 1998 119 119 1999 877 877 2000 2915 563 3479 2001 3810 169 3979 2002 491 223 1164 1878 2003 1210 350 1541 3101 2004 4301 814 510 5624 2005 1827 6262 567 8656 2006 575 262 837 2007 529 529 2008 41173 816 182 5466 47638 2009 837 837 2010 4434 292 4726 Note:-Deals Value are in Mln Euro’s
- 6. M&A impact on growth of big 4 Breweries Turnover in Billion Euro Company 2000 2010 Growth A-B InBev 5.9 26.0 340% SABMiller 3.4 14.7 332% Heineken 7.0 13.6 95% Carlsberg 4.8 8.0 67%
- 7. Group • It ‘s Amsterdam Stock Exchange listed company established in 1873 • Heineken have global presence with operations in 71 countries • Heineken’s reputed brands are Amstel, Bira Moretti, Primus, Sagres and many more • Joint Venture brand includes Anchor, Cristal, Kingfisher and Tiger
- 8. Asia Pacific Breweries have • APB is Singapore Listed Company presence in brewery since 1883 • It is a part of Fraser and Neave which is Pan –Asia consumer group • Top Brands includes Tiger, Baron’s Strong Brew, Bintang Beer etc
- 9. 38.50 38.00 37.50 37.00 36.50 36.00 35.50 35.00 34.50 34.00 08/03/2012 08/02/2012 08/01/2012 07/31/2012 07/30/2012 07/27/2012 07/26/2012 07/25/2012 07/24/2012 07/23/2012 07/20/2012 07/19/2012 07/18/2012 07/17/2012 07/16/2012 07/13/2012 07/12/2012 07/11/2012 07/10/2012 Heineken 07/09/2012 07/06/2012 07/05/2012 07/04/2012 07/03/2012 07/02/2012 Share Price In Euro’s Source:-Amsterdam Stock Exchange
- 10. Asia Pacific Breweries 60.00 Share… 50.00 40.00 30.00 20.00 10.00 0.00 Share… Source:-Singapore Stock Exchange
- 11. Valuation
- 12. Threat Opportunit Weakne Streng y ss th 1] High 1] Focus on 1] M & A by 1] Strong Distribution Asia Pacific the Brand Name Cost Competitors 2]Diversificati 2] Expertise 2] Green Field on in Quality Prod. 3] Beers for Women 3] Strong Distribution Network
- 13. Cheer s..!!