Amsterdam, 6 February 2017 - HEINEKEN N.V. (`HEINEKEN`) announced on 15 December 2016 that Vine Acquisitions Limited had announced (`Offer Announcement`) a recommended cash offer for Punch Taverns plc (`Punch`), and that HEINEKEN through HEINEKEN UK had agreed a back-to-back deal with Vine Acquisitions Limited to acquire Punch Securitisation A, comprising approximately 1,900 pubs across the UK.
Vine Acquisitions Limited announced today that it has acquired an aggregate of 63,310,488 ordinary shares in the capital of Punch at 180 pence per share, representing in aggregate approximately 28.5 per cent of the existing issued ordinary share capital of Punch on 3 February 2017 (being the latest practicable date prior to this announcement).
As described in the Offer Announcement, each of Glenview, Avenue Capital and Warwick Capital Partners, and the Punch directors who hold or are beneficially entitled to Punch shares, entered into irrevocable undertakings with Vine Acquisitions Limited in respect of their entire holdings of Punch shares immediately prior to the Offer Announcement. The irrevocable undertakings represent approximately 52.3 per cent of the existing ordinary share capital of Punch.
A link to the full Vine Acquisitions Limited release can be found at http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/13117826.html
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Information relating to HEINEKEN UK and the HEINEKEN Group
HEINEKEN UK
HEINEKEN UK is one of the UK`s leading cider and beer producers and the company behind brands such as Strongbow, Bulmers, Heineken®, Foster`s, John Smith`s and Desperados. HEINEKEN UK is the HEINEKEN Group`s main operating entity in the UK and employs around 2,000 people across seven sites in the UK with offices, breweries and cider production facilities in Edinburgh, Tadcaster, Manchester, London, Hereford and Ledbury. HEINEKEN UK operates the Star Pubs & Bars business with a UK-wide estate of 1,049 pubs which has delivered an attractive profit margin and cash return to HEINEKEN UK.
HEINEKEN UK is a wholly owned indirect subsidiary of HEINEKEN N.V.
HEINEKEN Group
Established in 1864 by the Heineken family, the HEINEKEN Group is one of the world`s leading makers and marketers of quality beers and ciders. Led by the Heineken® brand, the HEINEKEN Group has a portfolio of more than 250 international, national, local and specialty beers and ciders. The HEINEKEN Group employs approximately 73,000 people across the world and operates 167 breweries, malteries, cider plants and other production facilities in more than 70 countries. For the 2015 financial year, the HEINEKEN Group reported turnover of €20,511 million (2014: €19,257 million) and net profit of €1,892 million (2014: €1,516 million).