Tidying up Argentina
Further, Heineken will sell its 15 percent stake in Quilmes to the controlling shareholder BAC, whilst agreeing to settle all disputes and claims outstanding in the pending arbitration proceeding between Hein-eken and Quilmes.
This will lead to an extraordinary net profit of EUR 73 million for Heineken in 2003. The sale to BAC will be subject only to the closing of the transaction announced by Quilmes and AmBev in May 2002.
As part of this agreement Heineken will be able, at its option, to terminate the licensing agreement to produce the Hein-eken brand with Quilmes. Hein-eken intends to transfer this agreement to CCU as soon as practically possible. The deal will immediately contribute to the net profit of Heineken..
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