Groupe DANONE withdraws from the capital of Mahou
To hand over its 33.34% stake to the shareholders of Mahou for about EUR 600 million.
27/05/05 Groupe DANONE has reached an agreement with Mahou's shareholders to withdraw from the capital of the company. Groupe DANONE is going to hand over its 33.34% stake to them, for about EUR 600 million (net of tax).
With reported sales of circa EUR 800 million in 2004, Mahou has a leadership position on the Spanish beer market with flagship brands including San Miguel and Mahou.
This withdrawal puts an end to Groupe DANONE's presence in brewing activities.
The first stage of this disengagement took place in 2000, when Groupe DANONE combined its brewing assets in France and in Belgium with the brewing business of the UK group Scottish & Newcastle.
At the same time, Groupe DANONE had sold its 69% stake in the Spanish brewer San Miguel to its associate Mahou, of which Groupe DANONE owned one third of the share capital, and its 24% stake in Birra Peroni Spa to the Peroni family.
The transaction will take effect at the end of 2005. Groupe DANONE will book a capital gain of about EUR 280 million (net of tax) in its 2005 accounts.
