Molson Coors Receives Approval for StarBev Acquisition
Molson Coors Brewing Company has received regulatory approval from the European Competition Commission, related to its acquisition of StarBev, which was previously announced on April 3, 2012.
Molson Coors Brewing Company will pay $3.5 billion to acquire StarBev, giving the Canadian-American beer maker a new base in Europe and adding more than 20 brands to its portfolio.
This approval follows previous regulatory approvals from the Serbian Commission for the Protection of Competition, as well as the Anti-Monopoly Committee of Ukraine.
“We are pleased to have received the EU regulatory approval and look forward to closing before the end of the month, as previously indicated,” said Peter Swinburn, president and chief executive officer of Molson Coors. “We continue to be impressed with the StarBev team and operations, and expect to hit the ground running upon closing this highly compelling transaction.”
In May, the company successfully completed an offering of $1.9 billion in debt securities, the proceeds of which will be used to finance the acquisition.
Molson Coors Brewing Company will pay $3.5 billion to acquire StarBev, giving the Canadian-American beer maker a new base in Europe and adding more than 20 brands to its portfolio.
This approval follows previous regulatory approvals from the Serbian Commission for the Protection of Competition, as well as the Anti-Monopoly Committee of Ukraine.
“We are pleased to have received the EU regulatory approval and look forward to closing before the end of the month, as previously indicated,” said Peter Swinburn, president and chief executive officer of Molson Coors. “We continue to be impressed with the StarBev team and operations, and expect to hit the ground running upon closing this highly compelling transaction.”
In May, the company successfully completed an offering of $1.9 billion in debt securities, the proceeds of which will be used to finance the acquisition.