China Resources Beer (holdings) Co. Ltd. · HKEX:291
China Resources Beer (holdings) — China Resources Enterprise — Merger or Acquisition (April 2015)
17 slides from China Resources Beer (holdings)'s merger presentation, Apr 21, 2015
Slide 1: Investor Presentation
Investor Presentation April 2015 1
Slide 2: CRH Proposes Group Restructuring of its Consumer and Retail Businesses
CRH Proposes Group Restructuring of its Consumer and Retail Businesses CRE to Transform into a Beer Focused Company Proposal received from CRH CRE has received from CRH a binding proposal to acquire all non-beer businesses for HK$28.0bn (the " Possible Disposal") − Non-beer businesses include Reta
Slide 3: Overview of Proposal
Overview of Proposal Benefits to Shareholders The New CRE 3
Slide 4: Key Terms of the Proposal from CRH
Key Terms of the Proposal from CRH CRH submitted a Binding Proposal to the Company to acquire the Non-Beer Businesses of the Company for a consideration of HK$28.0bn (the “Possible The Possible Disposal”) Disposal Completion of the Possible Disposal is subject to approval from the Company's inde
Slide 5: Proposed Transaction Structure
Proposed Transaction Structure All Non-Beer businesses sold to CRH Today Post Possible Disposal Post Completion of Partial Offer1 CRH Public CRH Public CRH Public 52% 48% 52% 48% 62% 38% SABMiller CRE SABMiller CRE SABMiller CRE Special Dividend 51% 49% (HK$11.50 49% 51% per share) 80% To be distrib
Slide 6: Benefits to Shareholders
Overview of Proposal Benefits to Shareholders The New CRE 6
Slide 7: Key Benefits of the Proposal to Shareholders
Key Benefits of the Proposal to Shareholders Proposal delivers immediate cash realization – Shareholders can realise cash proceeds of HK$24.20 in cash for each share that is tendered and accepted into the Partial Offer, which represents approximately a 59.2% premium to the last closing share price
Slide 8: What will Shareholders Receive?
What will Shareholders Receive? Shareholders will receive a Special Cash Dividend of HK$11.50 per share and either retain their shares in CRE or tender them into the Partial Offer to receive HK$12.70 per share in cash if accepted 2 Ongoing ownership in Beer Market Position / Volume #1 in China / Sha
Slide 9: Proposal Represents a 59.2% Premium for Each Share Accepted in the Partial Offer
Proposal Represents a 59.2% Premium for Each Share Accepted in the Partial Offer 59.2% premium to last closing price 75.66% of last closing 12.70 price of CRE's shares (HK$15.20) 24.20 15.201 11.50 Special Special dividend Dividendfrom disposal per share per from Shares Sharestendered tenderedandand
Slide 10: The New CRE
Overview of Proposal Benefits to Shareholders The New CRE 10
Slide 11: China's Leading Brewer Supported by a 21 Year Partnership with SABMiller
China's Leading Brewer Supported by a 21 Year Partnership with SABMiller CR Snow is the #1 brewer in China with increasing market share 20% 21% 21% 22% 23% Successful 21 year partnership with SABMiller 14% SABMiller is the second largest brewer globally 14% 14% 16% 17% with track record of growt
Slide 12: Nationwide Presence with 98 Breweries in 25 Provinces
Nationwide Presence with 98 Breweries in 25 Provinces Nationwide presence operating 98 breweries in 25 out 34 provinces in China, with total capacity of approximately 200,000,000 hectoliters 5(1.1mkl) Heilongjiang 3(0.6mkl) Jilin 4(0.4mkl) Inner Mongolia 12(2.3mkl) Liaoning 1(0.2mkl) Gansu 1(0.2mkl)
Slide 13: Irreplaceable Heritage Brands that Resonate with the Local Consumer
Irreplaceable Heritage Brands that Resonate with the Local Consumer CR Snow has a comprehensive portfolio of national and regional brands Snow - China's #1 national brand and world's largest selling beer brand by volume since 2008 Regional brands North Central / East South Southwest Northwest Source
Slide 14: Proven Track Record of Double-Digit Growth
Proven Track Record of Double-Digit Growth Sales and net income CAGR of 26% and 23%, respectively since inception in 1994 Evolution of Sales and Net Profit Growth Turnover (HK$ MM) Net Profit (HK$ MM) 40,000 1,200 2013 2014 CAGR (from 1994 to 2014) Cash Conversion(1) 41% 31% Turnover: +26%; Net Prof
Slide 15: The Leading Platform for Industry Consolidation
The Leading Platform for Industry Consolidation Track record of M&A with over 20 acquisitions since 2006, including HK$6.7Bn acquisition of Kingway in 2013 Feb-06 Dec-06 Mar-09 Apr-10 Jun-11 Acquisition of Quanzhou Acquired Shanxi Yueshan Acquired 90% stake in Acquired 27% stake in Acquisi
Slide 16: Responsibility Statement and Disclaimer
Responsibility Statement and Disclaimer This presentation has been prepared by China Resources Enterprise, Limited (the "CRE") for information purposes only. The reproduction of this presentation, in whole or in part, or disclosure of any of its contents, without prior consent of the CRE, is prohibi
Slide 17: Responsibility Statement and Disclaimer (cont.)
Responsibility Statement and Disclaimer (cont.) This presentation is for information and convenient reference and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any act, vote or offer to buy or subscribe for, any securit
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