New order
In January Heineken announced that it would reinforce its South American Operations by acquiring Schörghuber’s 50 percent stake in IRSA, the company that controls the Chilean brewer Compañía de Cervecerías Unidas S.A. (CCU).
At the same time Heineken came to an agreement with the Argentinean brewer Quilmes that it would terminate the Heineken licensing agreement and that Heineken would sell its 15 percent stake in Quilmes. It was reported that the sale of the 15 percent stake in Quilmes would lead to an extraordinary net profit of EUR 73 million for Heineken in 2003.
Now that Heineken holds Schörghuber’s stake in IRSA, the Dutch brewer could also obtain the controlling stake in the Karlovacka brewery in Croatia from CCU..
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