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Santo Domingo.- The Dominican group (CND) that makes the icon beer Presidente and other products has been sold to the giant Anheuser Bush InBev for US$3.5 billion, for which executives of the brewery traveled on Sunday to Brazil to close the deal today, local and foreign media report, quoting sources of the parent company.

Diariolibre.com and Bloomberg.com report that the parent company Leon Jimenes will keep part of the shares.

InBev owns the brewery Brahma in Dominican Republic, where it has as much as 30 percent of the beer market share, behind Presidente.

Reuters first reported that Anheuser Bush InBev and Heineken were waging a bidding war for Presidente that started with US$1.5 billion.

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COMMENTS
9 comment(s)
Written by: walnut, 16 Apr 2012 7:49 AM
From: Dominican Republic, La Romana
So with both Presidente and Brahma, what % do they control?
Written by: josean, 16 Apr 2012 8:04 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016




Now Brazil controls our roads and our TWO Presidentes!

If Danilo wins we will all soon be speaking Portuguese in this Brazilian Neo-Colony!



Written by: elBuscoon, 16 Apr 2012 8:31 AM
From: Cuba, La Havana, Que Viva La Revolucion

OMG

The sharks are eating up all the whales.... Soon it will be just a couple of Sharks controlling the World.

Please don't bring you Clidesdales to the DR. The Dominicans will all freak out at the Size of those Beast. Lol
Written by: Pedrin, 16 Apr 2012 8:44 AM
From: United States
DT- the correct word is "iconic".
Written by: dreadlocks, 16 Apr 2012 8:48 AM
From: United States
el Buscoon, soon is not the word. it´s just a few sharks controlling everything, already
Written by: guillermone, 16 Apr 2012 9:18 AM
From: United States
Você fala português ?
Written by: Ricardolito, 16 Apr 2012 9:53 AM
From: Dominican Republic, calle A.Portes
Quite coincidently ,I was reading yesterday the problems that the Australian Government was having with leakages of tax revenue, estimated at over $380 billion per annum, caused mainly through the black market and the greatest problem was with multinational companies and how they used price transfers, the use of invoices from a branch in one country to a branch in another country, to minimise their taxes..In this case Australia . Incidently Australia and Canada have a very high level of overseas ownership
The Australian tax office has to examine such invoices to ensure that they are legitimate and not overstated ,,,but of course the Dominican Government does not have the resources to do this so that although local production will be under the name of a Dominican company , the leakage in tax revenue will be high .
In so many ways these multi nationals are a curse to all those developing countries who need tax revenue and can not minimise the level as in richer countries.
Written by: THINK, 16 Apr 2012 11:09 AM
From: United States, SDQ -- Mia --NY

Now, the new owner of President beer is foreign company, I am just wondering if the DR's government give the new owner a tax break for alcohol consumption just like they did to President beer, such as lower taxes collection which happened few years ago.

One case happened before which was Verizon, when Verizon wanted to withdrawl the investment in DR, DR's government wanted to collect a lot of taxes, and then the Secretary of Statem, Ms. Rice, called Lie-onel and complained and negotiated, finally, Lie-onel stepped in the taxes collection and closed the deal.
Written by: hellborn25, 16 Apr 2012 12:06 PM
From: United States, I dont even live inside a house , I haunt one!
so presidente beers might have the water down taste ,like budweisers in the future. yuck I will past , ill stick with the heinekens.
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