HEINEKEN – Acquisition of Punch Shares by Vine Acquisitions Limited

06-Feb-2017 - Netherlands

HEINEKEN N.V. (‘HEINEKEN’) announced on 15 December 2016 that Vine Acquisitions Limited had announced ('Offer Announcement') a recommended cash offer for Punch Taverns plc (‘Punch’), and that HEINEKEN through HEINEKEN UK had agreed a back-to-back deal with Vine Acquisitions Limited to acquire Punch Securitisation A, comprising approximately 1,900 pubs across the UK.

Vine Acquisitions Limited announced today that it has acquired an aggregate of 63,310,488 ordinary shares in the capital of Punch at 180 pence per share, representing in aggregate approximately 28.5 per cent of the existing issued ordinary share capital of Punch on 3 February 2017 (being the latest practicable date prior to this announcement).

As described in the Offer Announcement, each of Glenview, Avenue Capital and Warwick Capital Partners, and the Punch directors who hold or are beneficially entitled to Punch shares, entered into irrevocable undertakings with Vine Acquisitions Limited in respect of their entire holdings of Punch shares immediately prior to the Offer Announcement. The irrevocable undertakings represent approximately 52.3 per cent of the existing ordinary share capital of Punch. 

A link to the full Vine Acquisitions Limited release can be found at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/13117826.html  

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