Heineken Publishes Combined Financial Information for APB

Heineken N.V. Publishes Combined Pro Forma Financial Information for APB and APIPL

Amsterdam, Feb 8, 2013 - (ACN Newswire) - Heineken N.V. ('HEINEKEN') today announced that it has substantially completed the provisional purchase price allocation of Asia Pacific Breweries Limited ('APB') and the non-APB assets held by Asia Pacific Investment Private Limited ('APIPL') (together 'the Acquired Businesses'), the sole control of which was acquired on 15 November 2012 ('the Acquisition'):

-- An unaudited provisional condensed opening balance sheet has been prepared as at 15 November 2012. In addition, HEINEKEN has compiled unaudited, pro forma condensed income information excluding exceptional items for the 12-month period ended June 2012;

-- Pro forma revenue of EUR1,534 million and EBIT (beia) of EUR419 million of the Acquired Businesses for the 12-month period ending June 2012;

-- The Acquisition is slightly EPS accretive to HEINEKEN in year 1;

-- Recurring pre-tax cost synergies of approximately EUR25 million have been identified, phased broadly evenly in 2013 and 2014;

-- Average acquisition financing costs are approximately 2.3%;

-- The revaluation of HEINEKEN's previously held equity interest (PHEI) in the Acquired Businesses, results in a pre-tax EUR1.5 billion exceptional gain. This non-cash item will be recognised in HEINEKEN's full year 2012 results;

-- The acquisition of the 4.7% share in APB after 15 November 2012 will result in an estimated negative impact on equity of EUR246 million, of which EUR151 million will be reflected in HEINEKEN's 2012 balance sheet;

-- Following closing of the Mandatory General Offer ('MGO') on 31 January 2013, trading in APB shares has been suspended from 1 February 2013;

-- On 8 February 2013, HEINEKEN owns 100% of APIPL and directly and indirectly owns 99.6% of APB. The process of acquiring the remaining APB shares not already owned by HEINEKEN by way of compulsory acquisition is expected to complete on or around 18 February 2013. APB will then be delisted from the Singapore Stock Exchange; and

-- The integration of the Acquired Businesses into the HEINEKEN organisation is progressing well and in line with management plans.
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