SANTO DOMINGO. - The beverage giant AmBev bought a 51% stake in Dominican Republic’s biggest brewery (CND) form the group E. Leon Jimenes and Heineken for US$1.24 billion, the latest figure disclosed and which reveals the transaction’s complexity.
The deal could as soon as mid April, affirmed the president of the Group ELJ Franklin Leon and of the CND, Abel Wachsmann yesterday, together with AmBev for Hispanic Latin America vice president Alexandre Médicis, who’ll be the brewery’s CEO.
Wachsmannn said more than RD$8.4 billion in taxes will be paid from the sale of 41.76% of the CND’s shares.
When Reuters first revealed the deal, it reported US$1.5 billion, a figure which ballooned to US$3.5 billion on an alleged bidding war, and just yesterday Leon Jimenez said it was just US$267.0 million.