Danish brewer and beverage group Royal Unibrew has agreed to buy soft drinks maker Vrumona from Heineken for €300 million, it said on Monday 3 July.
Expects To Close Deal In September Or October
Royal Unibrew said in a statement it expected to close the deal in September or October.
Financed Through Committed Extended Financing Facilities With Existing Banks
Royal Unibrew also said it would finance it through committed extended financing facilities with existing banks.
"A New Growth Platform For Royal Unibrew"
"Vrumona will become a new growth platform for Royal Unibrew in continental Europe and is expected to drive organic earnings growth in the coming years," CEO Lars Jensen said.
Acquisition Expected To Be Earnings-Per-Share Accretive In 2024
Royal Unibrew expects the acquisition of Vrumona, which is located near Utrecht in the Netherlands, to be earnings-per-share accretive in 2024, it said.
Heineken Seeks Approval For Sale Of Russian Business
The above news follows news from April that Dutch brewer Heineken had asked regulators in the Russian Federation to approve the sale of its business in Russia.
"If and when we have approval, we will share further details about the buyer," the company said at the time.
The disclosure was made in a trading update in which the company forecast its operating profit this year will increase by a mid to high single-digit percentage.
Heineken had previously said it plans to exit Russia, taking a €300 million loss.
Read More: Heineken Seeks Approval For Sale Of Russian Business
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