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Ambev and the Dominican National Brewery Co. include the merger

SD. This Wednesday, in a paid announcement in the newspapers, the Cerveceria Nacional Dominicana and the Compañia Cervecera Ambev Dominicana announced the completion of their corporate merger.

On 21 October, the general assemblies of the two companies approved the merger project of both commercial entities, which will take effect starting on 1 December 2014, according to the press communiqué.

With the corporate merger, Ambev Dominicana absorbs the assets, debts and obligations and the commercial name of the Cerveceria Nacional Dominicana, with this being the name of the new beer company in the country.

In April 2014, Ambev announced the acquisition of 51% of the shares of the Cerveceria Nacional Dominicana (CND) for a total of US $1.237 billion.

On this occasion, José A Leon, the President of the Board of Directors of the E Leon Jimenes S. A, the company that possessed 83.5% of the shares of the Cerveceria Nacional Dominicana, reported that with the transaction they were seeking to establish a strategic alliance which has as its purpose the conversion of the company into the leading Caribbean beverage company.

Ambev Dominicana is a subsidiary of Brazil’s Compañia de Bebidas de las Americas (Ambev). In September 2014, the company announced the expansion of their operations in the country with an additional investment of US $100 million during the coming year. The new Cerveceria Nacional Dominicana controls the beer market in the country.

Source: DiarioLibre

Category: DR News |

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Last updated March 24, 2017 at 2:14 PM
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