Heineken: Primarily Interested In Emerging Markets Expansion
21 June 2011 - 5:58PM
Dow Jones News
Heineken NV (HEIA.AE) is primarily interested in expansion in
emerging markets given its current exposure to mature markets,
spokesman John Paul Schuirink told Dow Jones Newswires Tuesday,
following SABMiller PLC's (SBMRY) 9.51 billion Australian dollar
(US$9.98 billion) bid for Foster's Group Ltd. (FGL.AU).
"We aim to balance our exposure between emerging and mature
markets and if we were to do a large acquisition in a mature
market, this would again increase our exposure to mature markets
which we aimed to reduce in past years," Schuirink said.
Heineken currently generates 57% of its operational profit from
emerging markets and 43% from mature markets compared to 63% from
mature markets five years ago. Brewers have been struggling to
achieve growth in mature markets where beer consumption has dropped
as consumers have tightened their belts in the face of the economic
downturn and government austerity measures.
Schuirink said that given emerging markets account for more than
80% of SABMiller's profit, Foster's is a more interesting target
for SABMiller than for Heineken.
SABMiller has said it will continue to pursue a takeover of
Foster's even though the Australian beer marker rejected its offer
saying it "significantly undervalues the company."
-By Anna Marij van der Meulen; Dow Jones Newswires; +31 20 5715
216; annamarij.vandermeulen@dowjones.com
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