Shareholders of “APU” JSC agreed to merge with “Heineken”

2017.08.21

It is decided that Heineken will own 25% of APU’s share. To be specific, “Heineken International” and “MCS Group’s” joint-investment company “MBC” will be merged to “Evergreen Investment LLC.” Thus, these companies will be merged to “APU JSC.” “Evergreen Investment LLC” was established in April of last year, to implement projects and give advises on foreign trade and management” as a subsidiary company of “Shunkhlai Group”. Within this framework, extraordinary meeting of shareholders owning 742.877.000 shares had been held and they agreed the merging project with 99%.

 

Last year, APU JSC had faced a loss of several billion tugriks due to economic crisis, difference in exchange rate. Its stock price also fell. For instance, they faced a loss of MNT 26 billion, its net profit was 5 times smaller than the previous year.

 

This structural change will result in higher possibility of getting dividend and improvement liquidity of shares due to bigger interest of investors. Thus, it will open opportunities to release IPO in the international market and become the main player in domestic market by gaining interest of foreign investors.

 

Source: Local Newspaper: “National Post”